Principles for protection and safekeeping of the assets of clients

1 GENERAL PRINCIPLES

1.1 These Principles for protection and safekeeping of the assets of clients (hereinafter the Principles) describe how AS Redgate Capital (hereinafter the Company) has arranged the safekeeping and protection of the securities and money of its clients. Unless otherwise specified in the Principles, a client means a natural or legal person who has entered into a service agreement with the Company

1.2 These Principles apply to all Company’s employees and contractual partners of the Company, unless otherwise provided in the respective agreements concluded with them.

1.3 The Company preserves information and keeps such records and accounts as are necessary to enable at any time and without delay to distinguish assets held for one client from assets held for any other client, and from the assets of the investment firm. Assets of clients managed and maintained by the Company, including assets of clients maintained in the name of the Company as well as assets acquired on account of such assets, belong to the respective clients and shall not be included in the bankruptcy estate of the Company, nor shall the claims of the creditors of the Company be satisfied on account of such assets. The Company takes organisational measures to manage the risk of the loss or decrease of the assets of clients, or of the rights related to such assets, as a result of misuse of the assets, fraud, poor administration, inadequate record-keeping or negligence.

1.4 The Company conducts, on a regular basis, reconciliations between its internal accounts, information and records, and those of any third parties by whom those assets are held. For this, the back-office responsible employee makes an inquiry in the internet bank of the third party holding clients’ assets at least once a month and this is reviewed by the employee assigned responsible for safeguarding of client securities and funds.

1.5 The Company stores the information about clients’ assets in a format which can be reproduced on a durable medium.

1.6 The responsible employee assigned by the Company’s management, is responsible for fulfilling the duties on safeguarding clients’ securities and funds described in the current Principles, including the following tasks:

a. regularly reviewing the reconciliation of money and securities according to section 1.4;;
b. reviewing compliance with information storing requirements according to section 1.5;
c. reviewing the documentation of client consents (consent for keeping, using and disposal of securities).

1.7 The implementation of the current Principles is reviewed by the Company’s Compliance Manager and the appropriateness and effectiveness is reviewed by the Company’s internal auditor. Reporting to the Financial Supervisory Authority (Finantsinspektsioon) on the maintenance and protection of assets belonging to clients is regulated by the Company’s internal regulation on reporting principles (“Aruandluse esitamise kord”).

 

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