Client Asset Protection

Protection in multiple ways

I-Access Group provides low-cost financial investment services, so client confidence in the group is deemed utmost important. To protect clients' assets and rights, I-Access Group safeguards client funds and portfolios deposited at its subsidiaries by regulatory supervision, procedural design, internal control, and client monitor.

SFC licensed corporation

I-Access Investors Limited ("I-Access") is a licensed corporation by the SFC for Types 1, 2, 4, 5, 6 and 7 regulated activities. I-Access as a licensed corporation, its clients have the following regulatory protection:

Investor Compensation Fund

In accordance with Section 236 of the Securities and Futures Ordinance, the Investor Compensation Fund is established to offer a maximum of compensation amount of HK$500,000 for the securities account, and another HK$500,000 for the futures account of each client.

Fidelity insurance schemes

Pursuant to the requirements of the Securities and Futures (Insurance) Rules, I-Access has purchased fidelity insurance policies against the risks of losses of client assets due to robbery, theft, forgery and fraudulent acts by employees, etc. from the insurer appointed by the SFC. The indemnity limit is HK$15 million for each of securities and futures activities, i.e. the total indemnity limit is HK$30 million.

Client trust accounts

I-Access, as stipulated by Section 149 of the Securities and Futures Ordinance, places client monies at client trust accounts opened with Bank of China (Hong Kong), HSBC, Bank of Communications, OCBC Wing Hang Bank and United Overseas Bank, completely segregated from its own fund.

Operation procedures

Deposit and withdrawal procedures

To deal with the issues of client money handling of traditional brokers, I-Access has designed the deposit and withdrawal procedures still effective since inception: clients have to deposit fund directly into I-Access bank accounts, and I-Access deposits the withdrawn fund directly into the drawing client's registered bank account. There is no arrangement for third-party withdrawal to eliminate any possibility of misappropriation of client money.

Risk control

I-Access itself is not involved in any large-amount speculative activities. All positions as a result of normal operations have their relevant hedging strategies in place. To reduce credit risk, clients must have sufficient fund or collateral before purchasing investment products. At times when margin or collateral value is not enough, I-Access takes prompt action to prevent some client from jeopardizing the safety of other clients' assets.

Internal control

I-Access has set up an independent Compliance Department to keep other operating departments under surveillance. Compliance staff are responsible for modifying operation procedures to satisfy the requirements under new regulation or rule changes, and offer training to related personnel.

Client monitor

Instant account update

When client deposits new fund by PPS, your account deposit will be updated instantly. Client can logon to verify.

Email daily statement

Clients receive emails with your daily statements attached on the following calendar day before dawn when there are any account activities, inlcuding trading, deposit, withdrawal or distribution. If there is any suspicious account activity found, client can contact I-Access immediately to trace the whereabouts of the asset.

Audit by independent auditors

I-Access is required to submit independent auditors' report to the SFC regularly. During the audit, auditors post asset confirmation notices to clients selected by sampling, and confirm I-Access bank deposits with the banks, to assure the completeness and accuracy of client asset records.