IBUKL is authorised and regulated by the Financial Conduct Authority (FCA), and is approved by HMRC to act as an ISA manager (including in respect of stocks and shares ISAs).
Under our client terms, and in accordance with the FCA rules relating to client money and assets (Assets), IBUKL will be responsible for holding and protecting your child’s Assets. IBUKL is required to separate your child’s Assets from its own resources. IBUKL is not permitted to use your child’s Assets to carry out its business activities.
In the unlikely event that IBUKL became insolvent, an administrator would be appointed to return your child’s Assets to you. If there is any shortfall, eligible claims will be covered by the UK Financial Services Compensation Scheme (FSCS). The FSCS is an independent body set up by the UK Government to pay compensation if a UK firm, such as IBUKL is in default and cannot meet any valid claims against it. FSCS claims are limited to £85,000 per client.
Please Note
- The FSCS applies to designated investments and may not cover all investments or transactions (and in particular these protections don’t apply to investment losses). For more information on the FSCS see www.fscs.org.uk.
Additional Information