Investor Compensation Scheme

Investment Guarantee Fund

The investment services provided by SOLIDUS Securities Investment Services Firm are covered by the “Investment Guarantee Fund” with the distinctive title “Guarantee Fund”. The Investment Guarantee Fund is an Investor-compensation Fund in line with Directive 97/7/EC, operating under provisions of Articles 1 and 61 – 78 in L. 2533/1997 (GG [FEK] 228/11.11.1997, issue Α’) transposing above Directive into the Greek laws.

The purpose of the Investment Guarantee Fund (IGF) is to secure the claims of covered clients against the IGF members through the payment of compensation, if the necessary preconditions are fulfilled. Applicants need not be Greek citizens. Foreigners residing in Greece, as well as Greeks or foreigners residing abroad, may also apply.

The amount of compensation paid to applicants who are found to be entitled to compensation may be up to thirty thousand euros (€30,000). This shall be the maximum compensation reflecting the total investment services provided. This coverage applies to all claims of the applicant against a member of the IGF regardless of the number of accounts, currency, and place of provision of the service.

The Guarantee Fund shall not cover certain categories of clients / investors below which shall be excluded from coverage:

• credit institutions;
• financial institutions;
• insurance firms;
• undertakings of collective investment, management companies;
• legal persons;
• states, central administrative authorities, government agencies and supranational bodies and organizations;
• local authorities;
• directors, members of the Board of Directors, Auditors and other persons providing confidential consulting services to the Investment Services Firm where such executives work as Members of the Board of Directors, auditors or advisers, and shareholders of the Investment Services Firm holding at least 5% of the share capital;
• relatives by blood or by marriage up to 2nd degree relatives of the persons of above case;
• any other person associated with the Investment Services Firm and is recipient of covered investment services by it.

The Guarantee Fund may deny payment of compensation to clients / investors in the below situations:

• part of claim for compensation is considered to be false;
• clients / investors have utilized fraudulent means in order to receive compensation by the Guarantee Fund;
• clients / investors act as an intermediary in respect of the covered service giving ground to claim thereof, and nothing in the available information provides evidence of the end-beneficiary’s entitlement to compensation as a client or of the compensation received by the end-beneficiary on different grounds;
• a substantial part of loss stemming from intent or gross negligence thereof;
• a late claim for compensation;
• money laundering.

Should the Guarantee Fund find any indication that the covered service being the object of claim to compensation conflicts with the bans set out in L. 2331/1995, as in force, it shall refer the matter to the Commission under L. 2331/1995 and shall refrain from making a decision until a final decision is issued in line with provisions in L. 2331/1995”. “Payment of compensation for claims stemming from covered services being the object of a conviction for money laundering within the meaning of L. 2331/1995”.

MORE INFORMATION ABOUT THE INVESTMENT GUARANTEE FUND CAN BE FOUND ON ITS WEB ADRESS: GUARANTEE FUND - Investor Compensation Fund (syneggiitiko.gr). YOU CAN CONTACT THE INVESTMENT GUARANTEE FUND BY PHONE IN (+30) 2103304682-3

An application to the IGF can be submitted in one of the following adresess: info@syneggiitiko.gr or Feidiou 14-16, Athens, GREECE, PO 106 78

Before submitting any application to the ICF, applicants should study the relevant provisions of the Law and the Directive. The existence of a valid claim by the applicant is a basic precondition for receiving the compensation.