JSC “Rietumu Asset Management” IMC operates in accordance with the legal acts of the European Union and the Republic of Latvia and follows recommendations of international financial organizations and workgroups (unofficial translation of titles of main laws and regulations is provided):
If the Society cannot fulfil its liabilities to the Client, the Client is entitled to receive compensation. From year 2008 a compensation of 90 percent (Ninety percent) of the irrevocably lost Financial Instruments or loss incurred due to the investment services within 20 000 EUR (Twenty thousand Euro) is guaranteed to every client.
An application for receiving the compensation has to be submitted within a year after the Client becomes aware that the Society cannot fulfil its obligations towards the Client; however, no later than 5 (Five) years from the date of the failure to fulfil these obligations.
The compensation is not paid to the Client if the Client is:
Investor protection is not applied if the Client has suffered loss due to changes in the prices of the Financial Instruments or if the Financial Instruments owned by the Client have become non- liquid.