B
Barnsley
Guest
I have been informed that some of the monies I invested in a certain financial product will be deposited in a "Client Asset Account" with BOI. My understanding is that my money will be pooled with other investors monies subject to certain regulatory requirements. I also understand BOI will have no visibility as to who the underlying investors in the pooled account are.
My question is this.....from what I can see from other threads the Deposit Guarantee Scheme operates on the basis of individual "depositors" (up to €100,000 after Sept 2010 - when the gov guarantee scheme runs out). If that is the case how is my money protected under the scheme if BOI went bust given its just an account opened by an investment firm for a pool of different peoples investment money.
Any thoughts appreciated.
My question is this.....from what I can see from other threads the Deposit Guarantee Scheme operates on the basis of individual "depositors" (up to €100,000 after Sept 2010 - when the gov guarantee scheme runs out). If that is the case how is my money protected under the scheme if BOI went bust given its just an account opened by an investment firm for a pool of different peoples investment money.
Any thoughts appreciated.