Individual Client Segregation (ICS)
How we keep your assets safe remains the same across both OCS and ICS?
Regulatory obligations require us to protect your cash and investments in two ways – by keeping them separate from our own (known as segregation) and by being part of the FSCS, or Financial Services Compensation Scheme. These are explained below:
- Segregation of Assets In simple terms, this means keeping your cash and assets separate to ours so we know exactly what belongs to you. This means that if we were to stop trading, your cash and assets could be returned to you:
We register all customer stock we hold in the name of a nominee company. This is a non-trading company and the record of accounts clearly identifies which stock are held on behalf of customers.
All client money held is held in bank accounts that are only used for holding client money. This clearly keeps client money accounts separate from accounts we use for our own money.
We want you to make an informed decision about how you’d like your investments to be held. There are other providers who may offer alternative ways of gaining ‘Individual Client Segregation (ICS)’ which may have different benefits and might be more cost effective for your needs. One such way could be by means of a Crest Membership Account. Although we do not offer this type of account, you can search for providers who do on the Personal Investment Management and Financial Advice Association (PIMFA) website at https://www.pimfa.co.uk/ in the ‘Managing your Money’ section under ‘Find a Firm’.
The IWeb Share Dealing Service is operated by Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.