Comments on: Summary of Deposit Guarantees in Ireland http://www.moneyguideireland.com/summary-of-deposit-guarantees-in-ireland.html Money - Savings - Mortgages and Price Comparison in Ireland Thu, 09 Sep 2010 14:07:17 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Money Saving Expert http://www.moneyguideireland.com/summary-of-deposit-guarantees-in-ireland.html/comment-page-1#comment-24410 Money Saving Expert Fri, 03 Sep 2010 13:44:13 +0000 http://www.moneyguideireland.com/summary-of-deposit-guarantees-in-ireland.html#comment-24410 Roger - The "Investor Compensation Scheme " is a separate private scheme to provide adequate funds out of which eligible investors of failed investment firms are compensated. The scheme is not for cash deposit accounts - but is in place to cover other types of of investment instruments, when sold by investment firms. These instruments include: * public and private company shares; * units in collective investment schemes; * life insurance policies (including unit-linked funds); * non-life insurance policies; * tracker bonds; and * futures and options. Cash deposits with Investec are covered by the The UK FSA Financial Services Compensation Scheme;100% of the first £50,000 per person Roger – The “Investor Compensation Scheme ” is a separate private scheme to provide adequate funds out of which eligible investors of failed investment firms are compensated.
The scheme is not for cash deposit accounts – but is in place to cover other types of of investment instruments, when sold by investment firms. These instruments include:

* public and private company shares;
* units in collective investment schemes;
* life insurance policies (including unit-linked funds);
* non-life insurance policies;
* tracker bonds; and
* futures and options.

Cash deposits with Investec are covered by the The UK FSA Financial Services Compensation Scheme;100% of the first £50,000 per person

]]> By: Roger http://www.moneyguideireland.com/summary-of-deposit-guarantees-in-ireland.html/comment-page-1#comment-24408 Roger Fri, 03 Sep 2010 13:23:56 +0000 http://www.moneyguideireland.com/summary-of-deposit-guarantees-in-ireland.html#comment-24408 The Investec 'Terms of Business' indicates the following for Investec Ireland: "Where an entitlement to compensation is established under the Investor Compensation Scheme, the amount of compensation payable to each eligible investor will be limited to 90% of the amount lost, as determined by the administrator of the Investor Compensation Scheme, capped at €20,000." Your web site indicates "The UK FSA Financial Services Compensation Scheme;100% of the first £50,000 per person." Can you clarify which is correct for depositors in Investec Ireland? Thanks. The Investec ‘Terms of Business’ indicates the following for Investec Ireland:
“Where an entitlement to compensation is established under the Investor Compensation Scheme, the amount of compensation payable to each eligible investor will be limited to 90% of the amount lost, as determined by the administrator of the Investor Compensation Scheme, capped at €20,000.”

Your web site indicates
“The UK FSA Financial Services Compensation Scheme;100% of the first £50,000 per person.”

Can you clarify which is correct for depositors in Investec Ireland? Thanks.

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