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Client Funds
City Credit Capital is not a bank. We do not borrow or lend our clients monies, and such monies are always held in segregated accounts to ensure the best protection for our clients all over the world. CCC has no borrowings and no exposure to sub-prime assets.
City Credit Capital has achieved steady, organic growth without borrowing and we have rigorous internal controls and audit procedures.
- City Credit Capital (UK) Ltd ("CCC") is authorised and regulated by the Financial Services Authority ("FSA). FSA register number 232015.
- CCC regularly submits statements of its solvency to the FSA, along with its annual audited financial statements, annual audited returns of information and a report from the auditors assessing our compliance with the FSA client money rules.
- In the unlikely event of bankruptcy by City Credit the FSA (through the Financial Services Compensation Scheme) guarantees repayment of client funds, 100% of first £30,000 and 90% of the next £20,000. After this the firm's fiduciary insurance covers client funds.
- All client funds are kept in a Client Segregated Account at HSBC. These funds cannot be used for supporting City Credit's operating cost.
- City Credit Capital is registered in England and Wales and is consequently governed by the Companies Act, which includes a requirement to have the financial accounts audited each year by independent accountants.
- We want to ensure that everybody who trades with CCC is aware of and comfortable with the nature of the investments made with CCC and the security CCC makes available to them. So, if you have any particular questions, please feel free to contact us at any time to discuss the security of trading with CCC.
This information is correct as at 01 February 2009.
