By being regulated by the FCA, clients of HY Markets get the assurance that they are protected under a world-leading financial jurisdiction. The FCA 'Client Assets Rules' require Henyep Capital Markets (UK) Limited to segregate all money due to you on a daily basis and hold these funds in a separate account held at a bank approved by FCA. We will hold these funds as trustee. As a result the approved bank or any other creditor of Henyep Capital Markets (UK) Limited will not be in a position to claim these funds in case of liquidation of Henyep Capital Markets (UK) Limited.
This also means that your funds and other assets will be segregated from Henyep Capital Markets (UK) Limited's own money and will not be available to us for use in the course of our business. We may hold your money and the money of other clients in a pooled bank account. Hence in the event of a default by the bank causes any unreconciled shortfall in the money held in the pooled account, then you may share proportionately in that shortfall.
The company maintains operational and client bank accounts with reputable financial institutions. All funds, whether they are classified as company funds or client funds, are kept in the safest top-tier banks.
In order to safeguard the reliability of our finances, We have appointed world-renowned firm Moore Stephens as our independent external auditors. They audit our books and records annually and report to the FCA our adherence to Client Money and Capital Adequacy Rules throughout the review period.
All HY Markets customers benefit from the FCA's FSCS scheme. FSCS is the UK's compensation fund of last resort for customers of financial services firms authorised by the Financial Conduct Authority (FCA). This means that FSCS can pay compensation under the protected investment business scheme to consumers if an authorised financial services firm is unable, or likely to be unable, to pay claims against it and so is in "default."
Payments under the protected investment business scheme are limited to a maximum of £50,000.00 per customer. The Scheme is set up mainly to assist retail individuals, although smaller businesses are also covered.
Full details of FSCS and its services are available at their web site: http://www.fscs.org.uk/