Protection of client funds
DIF is a broker company and therefore according to the Portuguese law needs to keep funds from clients segregated from DIFoperational funds and kept with a depositary. DIF is under the guarantee fund for investors from the Portuguese regulators in the unlikely event it goes into bankruptcy.
Our depositary Bank for DIF Freedom platform is the Danish Bank Saxo, a member of the Guaranteed Fund for Depositors and Investors supervised by the Danish Ministry of Economics.
As a result of the international financial crisis, the Danish Act on Financial Stability was adopted on 10 October 2008 by the Danish Parliament.
The Danish Act on Financial Stability launched the Governmental Guarantee Scheme according to which the Danish Government through a limited liability company, the Winding-Up Company, unconditionally and irrevocably guarantees the due payment of all unsecured creditors (except creditors pursuant to hybrid core capital, subordinated loan capital and covered bonds) in Danish banks which are members of the Private Contingency Association. Saxo Bank is a member of the Private Contingency Association and thereby included by the Governmental Guarantee Scheme.
In the unlikely event that Saxo Bank should fail to fulfill its unsecured and unsubordinated payment obligations when they become due and payable, the Danish Government guarantees the payment of such obligations. Accordingly, any claim, which meets the above re-quirements and which is not covered by other protection schemes, such as the Guarantee Fund for Depositors and Investors, will be honored by the Winding-Up Company.
The Governmental Guarantee Scheme will remain effective until 30 September 2010.
For more information on the Governmental Guarantee Scheme, please visit the Danish Ministry of Economic and Business Affairs’ website.