COVID-19 information: SA Corona Virus

How your assets are protected

All Whole Securities bought and Cash not yet invested by Clients on the EasyEquities Platform are protected in an Insolvency Event, because all Whole Securities and uninvested Cash are segregated (i.e. kept separate) from the assets of First World Trader (Pty) Ltd (“FWT”), the company that operates the EasyEquities Platform.

Whole Securities
All Whole Securities are held in safe custody by and registered in the name of FWT Nominees (RF) (Proprietary) Limited (“FWT Nominees”).

FWT Nominees is a ring-fenced, private, limited liability company with registration number 2013/091397/07, registered in accordance with the company laws of South Africa and approved as a nominee company to hold assets in its name on behalf of Clients by the Financial Sector Conduct Authority and Strate Proprietary Limited (“Strate”).

FWT Nominees is only permitted to hold Clients’ assets, including Securities and Cash. FWT Nominees is not permitted to incur any liabilities or expenses.

FWT Nominees is the registered owner of all client Securities. A register of the underlying beneficial owners of these shares is maintained by FWT.

FWT Nominees holds a Securities Account with an authorised central securities depository participant (CSDP) admitted to Strate, in the name of FWT Nominees into which Clients’ Securities are deposited or stand to be credited.

The CSDP submits a report of all holdings to Strate on a weekly basis, detailing the Securities that are held in the Securities Account. FWT submits a detailed breakdown of the beneficial owners or those Securities to Strate at the same time. Strate ensures that the lists reconcile and then utilises the data to update the Issuers share register, in which FWT Nominees is shown as the registered owner of such shares and the Client as the beneficial owner.

All Client Cash, that is not currently invested in Securities is held in FWT Nominees’ Bank Account, a bank account opened and maintained by and held in the name of FWT Nominees on behalf of Clients as beneficiaries of the amounts standing to the credit of such account from time to time.

For a more detailed description of the Insolvency Protections in place to protect EasyEquities’ Clients, please refer to paragraph 23 of the EasyEquities Terms and Conditions.

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.