In accordance with the applicable legislation, Golden Assets and Golden Broker deposit money received from their customers into global accounts opened on behalf of Golden Assets or Golden Broker, on behalf of customers, with a central bank of credit institutions Portuguese or other European Union countries, to banks in countries outside the European Union or to an eligible money market fund.
The option of a bank in a country located outside the European Union will, of course, take place whenever this is determined by the way in which the transactions ordered by customers are settled, and also when customers so request. In these cases, the applicable legal and regulatory provisions may be different from those in force in Portugal and in the other States of the European Union and, as such, in case of default of the entity with which the deposit is made, the clients' money they may not benefit from the same protection granted to them in Portugal and in the other states of the European Union.
About Golden Broker
Golden Broker may proceed to sub- hiring of securities custody services and financial instruments deposited or registered by clients with Golden Broker, which will always take place in the case of securities or financial instruments issued by non-Portuguese entities. In selecting the entities to be sub-contracted, Golden Broker acts with special care and diligence, paying particular attention to the respective legal qualification for the provision of such services, reputation, technical capacity and solvency. Preferably, Golden Broker will subcontract such services to credit institutions in the European Union. About Golden Assets
In the selection of these entities, Golden Assets acts with special care and diligence, paying particular attention to the respective legal qualification for the provision of such services, reputation, technical capacity and solvency. Preferably, Golden Assets will open these accounts with credit institutions in the EU and Group credit institutions, Golden Broker-Sociedade Corretora, SA However, whenever the settlement of operations made with the clients’ portfolios or the securities or financial instruments in those portfolios so demand, and whenever the clients so request, Golden Assets, or the selected entities, will subcontract custody services from entities in a country outside the EU. In such cases, the applicable legal and regulatory dispositions may be different from those valid and in force in Portugal and in all the other EU Member States and, as such, in case of nonfulfilment of the deposit receiving entity, the clients’ securities and financial instruments may not benefit from the same protection that it is granted in Portugal and in the other EU Member States.
