About compensation

• Investment Compensation Fund (ICF)
• The Fund shall compensate the investors, in any following situations
• The following categories of investors are excluded from compensation

Investment Compensation Fund (ICF)

Starting with date of 25.04.2008, Credit Europe Bank (Romania) S.A. had become member of Investment Compensation Fund, being registered with Fund's Members Register at Section IC (Credit Institutions) position 115.
Investment Compensation Fund is established in accordance with provisions of Law 297/2006 regarding capital market and CNVM Regulation no. 3/2006, with subsequent modifications and completions.

ICF has as object collecting of member's contributions and compensation of investor's debts which are hold and/or administrated in their account by process of investment services, within the ceilings established, according to provisions of. art. 30 from NSC Regulation no. 3/2006.

Compensation is covered by The Fund, for the clients of a Credit Institution, member of Fund, only for the money funds and financial instruments entrusted basis on a financial investment services agreement.

From the 1st of January 2012 the compensation provided by The Fund into consideration the principles of equal treatment and non-discrimination will be "lei" equivalent of EUR 20,000 per individual investor.

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The Fund shall compensate the investors, in any following situations

• CNVM has established that, for the moment, from its point of view, an intermediary or an investment management firm which is entitle to administrate investment individual portfolios, for reasons directly related from financial situation, is not capable to fulfill the obligations resulted from investor's debts and lack of perspective to honor these commitments in the shortest level of time. The payment of compensations shall be carried out after the publication date of the CNVM of decision regarding the procedure of enforcement of trustee in bankruptcy proceedings.
• Entitle Judicial authority, for the reasons related, directly or indirectly from financial situation of a member of The Fund, had issued an ultimate decision, having as effect the availability of investors to fulfill the rihts regarding revaluation the debts interesting respective firm. The payment of compensations shall carry out after notification decision by any part of interested parts.

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The following categories of investors are excluded from compensation

a) professional and institutional investors, including:

• investment firms as defined in the law regarding credit institutions and the capital adequacy;
• credit institutions as defined in the law regarding credit institutions and the capital adequacy;
• financial institutions as defined in the law regarding credit institutions and the capital adequacy;
• insurance undertakings;
• collective-investment undertakings;
• pension funds.
• other professional and institutional investors set out by C.N.V.M. regulations.

b) international institutions, governments and other central administrative authorities;

c) regional and local administrative authorities;

d) administrators, including managers, directors and other relevant persons, persons whose responsibility is to audit the Fund's members, their shareholders with holdings that exceed 5% of the share capital, as well as investors with a similar position within other companies of the same group as the Fund's members;

e) spouses, first rank relatives and in-laws as well as the persons acting on behalf of the international institutions, governments and other central administrative authorities;

f) other legal persons in the same group as Fund's members;

g )investors who have any responsibility for or have taken advantage of certain facts relating to a Fund's member which gave rise to the member's financial difficulties or contributed to the deterioration of its financial situation;

h) companies which are of such a size that they are not permitted to draw up abridged balance sheets according to the accounting principles into force.

The Fund must ensure the compensation of the receivable of each investor within the level of the compensation limit referred up, but not later than three months from the evaluation and validation date of eligible debts of investors.

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