When an investment firm goes out of business, as a common practice, once the liquidation process begins, the court should appoint an administrator for the investment firm. The firm’s office then should be closed and all operations terminated, while the administrator and the firm scrutinise all documents, records, and books. The respective competent supervisory authority shall monitor the process. In case the records of the firm are found to be accurate, provision should be made to transfer the client accounts to another brokerage firm by supervisory authority and the administrator. The customers shall be notified of the transfer of accounts; they shall be able to continue cooperation with the new assigned broker or choose another service provider on their own choice. The client may be asked to file a claim with the appointed administrator on repayment of the assets.
In certain circumstances, where the client falls under the protection of any investor compensation fund, the procedure of a direct repayment of client assets may take effect within the limits set by the respective investor compensation fund. This is an out-of-court process.
Exante invites you to periodically check Exante's legal status and licenses in the state registries, and maintain organised records of your assets and accounts by keeping either a hard copy or electronic records of holdings, account statements and trade confirmations.
Measures taken by EXANTE
EXANTE is a fully licensed investment company. As an EU company, we comply with MiFID II (Markets in Financial Instruments Directive).
In line with MIFID II requirements, we separate clients’ and Company's assets. Client's assets are held on segregated accounts at our trusted custodians (more than 25 major banks) and EXANTE has no access to these assets.