thank you for yourHi all,
I've just received word from the investment group I am part of, they work very closely with Courtenay House. I will post the email below, I honestly think that ASIC are making things out to be much worse than they are, they are bullies in the finance industry.
Hello everyone,
We have taken information from different documents and people over the past 24 hours to try to get some understanding on the ASIC case.
We can say that the Insurance is real, we have again verified this with the insurance broker who Courtney House has the insurance with. The insurance covers professional Indemnity, Crime and Cyber liability. YOU CAN NOT CLAIM ON THIS UNTIL ONE OF THOSE THREE ISSUES HAVE BEEN PROVEN TO BE INSTIGATED.
The other pressing point is whether your capital is safe. We have assumed that everyones capital is still in the bank accounts and in trading accounts of Courtney House. The figure stated in ASICs media release refers to only one bank account. There are more funds in trading accounts. The insurance relies on systems that make it very difficult for any two people to remove money from trading accounts and trust accounts and put them into other accounts. I believe there are many touch points that stop this from happening. The insurance covers only a part of the funds because the removal of money from the funds completely is not possible. This is our understanding and can not be taken as advice.
We have spoken to the head of the accounts department at Courtney House and he will be issuing an email within the next few days with a formal response from their solicitors. Courtney House have been told they are not to release any more information to clients as this needs to be done through their solicitors as the matter is with the High Court. As you can understand any lack of communication from any representative of Courtney house is likely to be because of advice from their barristers rather than malicious behaviour.
I will reiterate, there has been no misconduct found at this stage and ASIC are simply conducting enquiries. They have indicated that to us. This is the why they do it. I know it seems harsh, though looking at the bigger picture, they are doing their job looking after the wider community. If you would like to send an email to ASIC showing your support for Courtney House and the service you have received in the past, please feel free to do so at the dedicated email address. courtenayhouse.investor@asic.gov.au
Letting them know that you had been advised on the risks, that you are a sophisticated investor and your experience and that you believe the freezing of your funds should be dealt with in a quicker manner.
We are not acting on anyones behalf, though feel it is easier for us to get info and pass it on to you. That was always the reason we wanted to know who was investing.
Thank you for your support and we hope to continue informing you of any new information or inform you at the very least that nothing has changed.
Hi all,
I've just received word from the investment group I am part of, they work very closely with Courtenay House. I will post the email below, I honestly think that ASIC are making things out to be much worse than they are, they are bullies in the finance industry.
Hello everyone,
We have taken information from different documents and people over the past 24 hours to try to get some understanding on the ASIC case.
We can say that the Insurance is real, we have again verified this with the insurance broker who Courtney House has the insurance with. The insurance covers professional Indemnity, Crime and Cyber liability. YOU CAN NOT CLAIM ON THIS UNTIL ONE OF THOSE THREE ISSUES HAVE BEEN PROVEN TO BE INSTIGATED.
The other pressing point is whether your capital is safe. We have assumed that everyones capital is still in the bank accounts and in trading accounts of Courtney House. The figure stated in ASICs media release refers to only one bank account. There are more funds in trading accounts. The insurance relies on systems that make it very difficult for any two people to remove money from trading accounts and trust accounts and put them into other accounts. I believe there are many touch points that stop this from happening. The insurance covers only a part of the funds because the removal of money from the funds completely is not possible. This is our understanding and can not be taken as advice.
We have spoken to the head of the accounts department at Courtney House and he will be issuing an email within the next few days with a formal response from their solicitors. Courtney House have been told they are not to release any more information to clients as this needs to be done through their solicitors as the matter is with the High Court. As you can understand any lack of communication from any representative of Courtney house is likely to be because of advice from their barristers rather than malicious behaviour.
I will reiterate, there has been no misconduct found at this stage and ASIC are simply conducting enquiries. They have indicated that to us. This is the why they do it. I know it seems harsh, though looking at the bigger picture, they are doing their job looking after the wider community. If you would like to send an email to ASIC showing your support for Courtney House and the service you have received in the past, please feel free to do so at the dedicated email address. courtenayhouse.investor@asic.gov.au
Letting them know that you had been advised on the risks, that you are a sophisticated investor and your experience and that you believe the freezing of your funds should be dealt with in a quicker manner.
We are not acting on anyones behalf, though feel it is easier for us to get info and pass it on to you. That was always the reason we wanted to know who was investing.
Thank you for your support and we hope to continue informing you of any new information or inform you at the very least that nothing has changed.