Sunday October 25, 2020

Are your investments safe?

After the Worldspreads collapse, investors are once again left wondering whether their funds can ever be truly ringfenced, writes Jon Ihle.

24th March, 2012
2
The Central Bank has identified major gaps in the client asset protection regime in this jurisdiction. Photo: Getty

If there is a golden rule in finance, it is this: the client's money is not the firm's money. But after the collapse of spread trading firm Worldspreads last weekend, all bets are off.

The Dublin-based company went bust last Sunday after the board suspended its shares the previous Friday, citing "financial irregularities" in the wake of departures by the chief executive, Conor Foley, and chief financial officer Niall O'Kelly. The Financial Services Authority in...

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