Dáil Éireann Debate, Thursday - 17 January 2019
68. Deputy Michael McGrath asked the Minister for Finance the amount paid out by the investor compensation scheme in each of the past ten years; the number of investors that have availed of compensation in each of these years; and if he will make a statement on the matter. [2223/19]
Amharc ar fhreagraThe Investor Compensation Directive (97/9/EC) sets out the basis for clients of investment firms to receive statutory compensation when an authorised investment firm fails. In Ireland, the Investor Compensation Act 1998 provides for the establishment of the Investor Compensation Company DAC (ICCL) which administers the Investor Compensation Scheme.
The Investor Compensation Scheme deals with investor compensation claims where an investment firm fails and is unable to repay monies owed or return money and financial instruments held in accordance with its legal obligations to eligible investors.
I have been informed by the ICCL that it can only provide detailed records for claims paid from 2012 onwards. Based on the information provided, the total value of claims paid and numbers of eligible investors are as follows:
|
Year |
Value |
No. of Investors |
|
2008-2011 |
Not available |
Not available |
|
2012 |
€1,000,000 |
49 |
|
2013 |
€5,624,280 |
384 |
|
2014 |
€214,393 |
99 |
|
2015 |
€186,617 |
70 |
|
2016 |
NIL |
NIL |
|
2017 |
€431,712 |
22 |
|
2018 |
€28,001 |
10 |
|
2019 |
NIL |
NIL |
