How are my investments with coutts invest protected if coutts fails?
The assets held within each of the Personal Portfolio Funds are held separately from the bank by an independent company called a depositary, which is authorised by the Central Bank of Ireland. So your investments would be safe even if Coutts failed. Your investments through Coutts Invest may also be covered by the Financial Services Compensation Scheme in some scenarios.
Keeping Your Investments Safe
Your investments would be safe even if Coutts failed due to the way we keep records and the way your investments are held.
The assets held within each of the Personal Portfolio Funds are held separately from the bank by an independent company authorised by the Central Bank of Ireland. This company is called a depositary. The depositary keeps the assets of the funds safe and holds them separately from their own. BNY Mellon Trust Company (Ireland) Limited is the depositary.
SCENARIOS WHERE YOU HAVE FSCS PROTECTIOn
The Personal Portfolio Funds available through Coutts Invest are based in Ireland and so outside the jurisdiction of the Financial Services Compensation Scheme. But there are some scenarios where your investments through Coutts Invest could be covered by the UK Financial Services Compensation Scheme (“FSCS").
Money you hold in your Coutts Invest ISA cash account. This money is treated as a deposit so is covered by the same FSCS protection that applies to savings accounts and current accounts.
If your loss related to Coutts failing to provide proper safekeeping of your investments.
If your loss related to Coutts misrepresenting important facts about the Personal Portfolio Funds.
Please see the FSCS website for more information on the circumstances in which you might be able to make a claim.