S
stugots
Guest
I have a PRSA with Custom House Capital. I understand that they are currently being investigated by the Central Bank for some 'unusual activities'. The suggestion from the Irish Times is that funds were moved from some customer accounts to prop up some ailing property funds. No funds are allowed into or out of CHC PRSA accounts while the investigation is ongoing.
My PRSA is a little unusual in that it is entirely invested in an illiquid asset with a maturity horizon of 15 years from now. Therefore, there were no funds that could have been extracted directly from my account. If it turns out that there is a deficit in the accounts of some CHC customers, how will this be handled? Is the burden shared by all CHC customers? Does the FSA insure against this circumstance?
My PRSA is a little unusual in that it is entirely invested in an illiquid asset with a maturity horizon of 15 years from now. Therefore, there were no funds that could have been extracted directly from my account. If it turns out that there is a deficit in the accounts of some CHC customers, how will this be handled? Is the burden shared by all CHC customers? Does the FSA insure against this circumstance?