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BackThe insolvency of an Austrian financial group in 2005 might cause about 10,000 investors to suffer losses from security investments - mainly attributable to malversations. This case alonedemonstrates that planned reforms in the Investor Compensation Scheme Directive are generally welcome.
The Investor Compensation Scheme Directive protects investors against the risks of fraud, irregular practices or operative mistakes, which result in the fact that an investment firm is not able to return to investors the monies or investment instruments belonging to them. The AK welcomes the intention that the Investor Compensation Scheme Directive will apply to all investment services and investment activities, which come under the Markets in Financial Instruments Directive (MiFID).
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Christian Prantner
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Benedikta Rupprecht
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