Breinrock DIFC Tech Ltd ("Breinrock DIFC") will hold money received from or on behalf of you in connection with the provision of its services as Client Money in accordance with the Dubai Financial Services Authority ("DFSA") Conduct of Business Module.
Such Client Money will be held by Breinrock DIFC as agent and segregated from its own funds in one or more bank accounts designated as "Client Accounts" with third-party banks. These accounts are established to hold money on behalf of clients and are maintained in the name of Breinrock DIFC.
Client Money may be held with banks located in jurisdictions outside the Dubai International Financial Centre. In such cases, the legal and regulatory regime applicable to those banks may differ from that of the DIFC, and in the event of the insolvency or failure of a third-party bank, your money may be treated differently from the position which would apply if the money were held in the DIFC.
In the event of the insolvency or resolution of Breinrock DIFC, Client Money is segregated from the Firm's own funds and is held on trust (or under an equivalent arrangement) for clients. Accordingly, such money should not be available to satisfy the claims of general creditors of Breinrock DIFC. However, there may be delays in returning Client Money and, in the event of a shortfall, you may share proportionately in that shortfall.
Client Money may be held in pooled Client Accounts together with money belonging to other clients. As a result, individual entitlements may not be separately identifiable in the event of a shortfall and may be subject to pro rata distribution.
Breinrock DIFC does not pay interest on Client Money held on your behalf unless otherwise expressly agreed in writing.
Breinrock DIFC will exercise due skill, care and diligence in the selection, appointment and periodic review of third-party banks used to hold Client Money. Breinrock DIFC will not grant any security interest, lien or right of set-off over Client Money in favour of any third party, except where required by applicable law.
By entering into an agreement with Breinrock DIFC, you acknowledge and agree to the terms set out in this Client Money Disclosure.