The Investor Compensation Company DAC (ICCL) was established in 1998 to provide a level of protection for retail investors in circumstances where fraud or insolvency results in the inability of an investment firm to return investment instruments or money to investors. The Investor Compensation Act, 1998, governs the ICCL and prescribes the governance structure, the scope, the basis for funding and the process for paying compensation for the investor compensation scheme.
The Investor Compensation Company DAC aims to operate a financially sound scheme so that it is in a position to pay, in a prompt manner, statutory levels of compensation to eligible clients of failed investment firms.
In doing this we will:
- Ensure that claims for compensation are dealt with promptly.
- Operate a cost effective method for the collection of levies which is fair to all investment firms.
- Maintain an open and positive relationship with the participants and claimants with whom we deal.
In fulfilling our mission we are guided by the following values:
- We take seriously our responsibility to the Investor Compensation Scheme’s claimants and participant firms
- We work in a consultative and co-operative manner with our participant firms, with the Central Bank of Ireland and with the Department of Finance
- We operate with integrity and transparency
- We work efficiently and effectively
These values guide the way we:
- carry out our work
- make decisions
- relate to others
- design our structures and procedures, and
- determine how we set priorities
This Charter sets out the manner in which customers will be assisted in their dealings with the ICCL and the standards and quality of service which participants, claimants and members of the public can expect from the ICCL.
- To perform the ICCL’s role in a manner that is transparent and accountable.
- To communicate with courtesy and respect.
- To provide full and accurate information when you contact us.
- To continually provide up to date information on our website.
- To issue compensation payments to all claimants promptly after claims have been certified by the Administrator.
- To deal with complaints promptly and in a courteous and professional manner. (For making a complaint, please see our complaints and appeals procedure).
- To develop the abilities, skills and competence of staff to ensure continued improvement in organisational performance
What to expect when you contact us
- We aim to acknowledge receipt of all written correspondence within 10 working days and to issue a substantive response, where necessary, within 20 working days.
- We aim to return telephone calls / telephone messages within one working day at the latest
- We will provide callers with our contact name and details.
- We will provide callers with the appropriate information they require.
How customers can make a suggestion
- We welcome your views on how we can continue to improve our services.