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The Investor Compensation Fund (ICF) is established under the Securities and Futures Ordinance to pay compensation to investors who suffer pecuniary losses as a result of default of a licensed intermediary or authorized financial institution in relation to exchange-traded products in Hong Kong. The ICF is administered by the Investor Compensation Company (ICC) which is a wholly-owned subsidiary of the Securities and Futures Commission (SFC).
Under certain circumstances, a deposit held by a depositor at a failed bank may be protected simultaneously by the DPS and the ICF. To avoid overlapping of compensation paid to depositors/investors, the Board has entered into a Memorandum of Undertaking jointly with the SFC and the ICC aiming at fostering cooperation among the parties and information exchange. |
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