Guarantee fund for depositors and investors
Guarantee fund for depositors and investors
The Danish Guarantee Fund for Depositors and Investors secures depositors and investors in the event of a financial default by banks such as Saxo Bank. Any depositor's or investor's cash deposit is guaranteed against bankruptcy or suspension of payments up to a maximum DKK 300,000 (approximately EUR 40,000) and securities of up to EUR 20,000. Please see our memo which describes in full detail how every client is secured at Saxo Bank with either their deposited securities or cash deposits.
Further questions
If you have any questions about the coverage provided by the Guarantee Fund, please contact our Legal & Compliance Department on Phone: (+45) 39 77 40 00.
Press Release about the fund
The press release below was issued when the scope of the Guarantee Fund was widened to also encompass deposits with investment companies. However the content is applicable to all institutions under the Guarantee Fund, including banks.
PRESS RELEASE |
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Depositor and Investor Protection Guarantee Fund A law about a depositor and investor protection guarantee fund came into force on October 15, 1998. With this law the present system is maintained; depositors with cash deposits in financial institutions are covered up to the amount of DKK 300,000 in the event of the institution's suspension of payments or bankruptcy. With the new addendum cash deposits in mortgage institutes and investment companies will be covered up to the amount of DKK 300,000 in the event of the institutes'/companies' suspension of payments or bankruptcy. Finally, securities will be covered up to the amount of €20,000 equivalent to approximately DKK 150,000 if the institute is unable to return the securities, kept in safekeeping, administrated or managed, to the investors. An investor is an individual who has a financial institution, a mortgage institute or an investment company keep or manage his securities. As the rules are determined by directives equivalent rules are put into force in all countries within the EU. Minister for Economic Affairs, Marianne Jelved has appointed the following members to manage the guarantee fund: |
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President: Jørn H. Kjær, former Vice-president of the Danmarks Nationalbank |
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Vice-president: |
Division Manager Jens Hennild, Dansk Industri |
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| Direrctor Benedicte Federspiel, Consumers' Advisory Council Director Lars Barfoed, Finance Council Vice-director Jens Loft Rasmussen, Finance Council Director Torben Gjede, Mortgage Institute Council and Pernille Gangsted-Rasmussen, Privestor Fund Management Investment Company |
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26. October 1998 Eksp.nr. 00121392
As a client of Saxo Bank A/S you are covered by the Danish Guarantee Fund for Investors. Please be aware that the protection offered by the Danish Guarantee Fund for Investors may not be equivalent to protections schemes in your jurisdiction.