AMOSS Solicitors is pleased to announce that the Minister for Finance, Michael Noonan, T.D., has appointed Corporate Partner Enda Newton as a non-executive director of the Investor Compensation Company Limited (ICCL) for a two year term.
Mr Newton will also serve on the Audit Committee.
The ICCL is an independent company set up under the Investor Compensation Act 1998. Its shareholders are the Central Bank of Ireland, the Irish Stock Exchange and The Irish Association of Investment Managers.
The ICCL is the statutory ‘fund of last resort’ for customers of authorised investment firms. It is responsible for administering the investor compensation scheme and ensuring that payments to customers of failed investment firms are made promptly.
The ICCL board is made up of appointees of the Governor of the Central Bank, the Minister for Finance, the Irish Stock Exchange, the Competition and Consumer Protection Commission, Banking and Payments Federation Ireland, the Irish Brokers Association, the Irish Association of Investment Managers and the Professional Insurance Brokers Association Limited.