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Investor Compensation Fund
What is it?
ArumProCapital Ltd. is a member of the Investor Compensation Fund (ICF), which serves to protect and secure the claims of covered clients and provide them with compensation in instances where the member of the Fund cannot meet its financial obligations.
КThe ICF covers Retail Clients of the Company.
It does not cover Professional Clients and Eligible Counterparties.
The ICF initiates the compensation payment process in one of the following situations:
- The Cyprus Securities and Exchange Commission (CySEC) has determined by resolution that that the Company is unable to meet such of its duties as arise from its Clients’ claims in connection with the investment services it has provided, as long as such inability is directly related to its financial circumstances with respect to which no realistic prospect of improvement in the near future seems foreseeable;
- CySEC has issued its decision on the commencement of the compensation payment procedure by the ICF as well as has published the said decision in the Official Gazette of the Republic of Cyprus as well as on its website.
Upon issuance of a decision to initiate the compensation payment process by a Court or by CySEC, the ICF publishes, in at least three (3) newspapers of national coverage, an invitation to the covered Clients to make their claims against the Company.
The total payable compensation to each covered Client of the Company may not exceed the amount of twenty thousand Euros (EUR 20,000), irrespective of the number of accounts held, currency and place of offering the investment service.
Click here to read more about the ICF.