Chocolate Finance and Allfunds, a global fund distribution platform, have jointly reaffirmed the security of Chocolate’s customer investment funds and the orderly processing of withdrawals. As a licensed custodian, Allfunds provides fund dealing and custody services to Chocolate, ensuring investments are safeguarded within Singapore’s regulatory framework.
Chocolate Finance emphasised that customer investment funds are held in segregated, ringfenced accounts, managed according to Singapore’s stringent regulatory safeguards. David Pérez de Albéniz, CEO at Allfunds Singapore, stated, “Customer investment funds’ holdings are completely segregated and ringfenced, as required by Singapore’s regulations, which means that the safety of investment fund holdings is assured.”
Withdrawals are being processed as expected, with customers receiving their funds within three to six business days, aligning with standard industry settlement periods. Walter de Oude, CEO and Founder of Chocolate, noted, “Whilst we have seen a spike in withdrawals, all are being processed in an orderly manner. We assure customers that their funds are secure, and withdrawals are proceeding as scheduled.”
Chocolate Finance continues to collaborate with Allfunds to maintain high levels of security, compliance, and operational efficiency. This partnership underscores their commitment to trust in Singapore’s financial system and providing a reliable investment platform.
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