Excluded Persons

The following persons are not entitled to compensation for unavailable client assets:

-persons who by their criminal activities for which they were lawfully convicted by the court in criminal proceedings partly or fully caused the inability of the person participating in client protection to meet the liabilities to clients;

-persons who acquired cash and financial instruments in connection with legalisation of proceeds from crime for which they were lawfully convicted in criminal proceedings; and

-persons who have a special relationship with the person participating in client protection pursuant to Section 87(8) of the Securities Act.