Investor protection and deposit guarantee
Lysa is obliged to keep your holdings separate from its own assets. The same applies to the money which we have received in connection with the portfolio management. Since your holdings and money must be separate from Lysa's assets, you are entitled to them if Lysa would enter into bankruptcy. Once a year, Lysa's external auditor verifies that the Lysa’s measures and procedures to ensure the preservation of the separation right are appropriate and suitable.
For fund units and funds, the assets of an individual fund cannot be used in the event of a bankruptcy in Lysa or in the fund company. The assets of a fund are jointly owned by the fund's unit holders (the customers) and are stored at a depositary. When the customer’s fund units are registered on a deposit account with Lysa, they are nominee registered with the fund company. The customer's holdings of fund units are registered in Lysa's unit-holder register. In the register, Lysa differentiates the customer's holdings from other customers' holdings.
State-provided investor protection for your holdings
In the event that Lysa nevertheless cannot dispense your property, for example if it after a bankruptcy would not be possible to find out which are yours and the institution's assets, respectively, you are entitled to compensation from the Swedish state-provided investor protection. Investor protection means that the state protects customers’ securities in transactions or when stored with a bank or an investment firm.
Since Lysa is an Swedish registered investment firm, your holdings are protected by the Swedish state-provided investor protection which is regulated in the Swedish Act (1999:158) on Investor Protection. The compensation is limited to SEK 250,000 per customer and institute. The protection does not apply to changes in the value of shares and other securities.The right to reimbursement also applies to money associated with requirements of record keeping received by the institute from customers, i.e. money that must not be mixed with the institution's own assets.
More information on the investor protection can be found on the website of the Swedish National Debt Office, www.riksgalden.se.
State-provided deposit guarantee for your money
Lysa receives money from customers with an obligation of record keeping. This means that the customer’s money must be kept separate from Lysa’s own assets. The customer is thereby entitled to its money in the event of Lysa’s bankruptcy.
Lysa keeps customers’ money in a client funds account, currently with Danske Bank A/S, Denmark (the “Credit Institution”). Your money is protected under the Danish deposit guarantee called the Guarantee Fund (Dan. Garantiformuen). It provides protection for an amount equivalent to EUR 100,000 per depositor.
A client funds account is an account where money has been deposited on behalf of several customers on the same account. The general rule for client accounts is that the underlying owners of the funds, that is, each customer at Lysa, can each receive compensation from the deposit guarantee up to the maximum amount.
If the Credit Institution fails, the Guarantee Fund in Denmark will within seven working days repay your deposits with up to the maximum amount of EUR 100,000 by sending a payment order to the institution in your home country that administers the deposit guarantee fund, in Sweden the National Debt Office, which will then make the payment. Compensation is given in the local currency.
More information about the Guarantee Fund can be found on the Guarantee Fund’s website, www.garantifonden.dk.