Investment firms providing discretionary portfolio management services and/or the reception and transmission of orders in relation to financial instruments in Austria are obliged to be members of an investor compensation scheme that operates as a liability company. The scheme compensates investors for eligible claims up to a limit of €20,000. Investors are entitled to compensation, if their claims were caused by an investment firm's inability (i) to repay funds owed to investors or (ii) to return instruments to investors that are their property and have been managed on the investors' account in connection with investment services.
May 31 2009