Membership of the Federation is a fundamental requirement within FairFund's unique structure.
Due to the Constitution and Charter of the Federation, the Federation may not deal with the public, as it is not registered for Financial Services nor is it under the authority of any legislation, relating to financial activity in any nation. The Federation accepts no third party liability of any description, which includes giving financial advice and / or handling cash belonging to the public. It is for this reason that Members are deemed in law to be "Insiders" that have acknowledged their position by renouncing any requirement to be protected by public financial legislation.
On Application for membership an applicant acknowledges its support for the Mission, Ethos, and Objectives of the Federation. There are two classes of applicant:
On qualifying for Membership, a Member becomes a beneficiary of the Risk Mitigation Reserve Trust (RMRT) with full voting rights of the FairFund Foundation company to which the Member is registered. Members are entitled to certain privileges which include the right to make application, through the Executive Council, for Concession Funding from the RMRT.
A Member, who is the named beneficial owner of cash and / or assets, readily convertible to cash may deposit the value required to fund its project into a designated sub-account of the RMRT. The project must be compatible with the ethos of the Federation and use the structures and disciplines of FairFund as risk mitigation. Such an entity is classified as a Supporting Member, as the sub-account is under Swiss Asset Management. 40% of all earnings must be benefacted to the master RMRT account.
There is an initial membership subscription of ten thousand Euro, which is allocated to the costs, charges and stipends for the promotion and development of the FairFund structure. All applicants must pass through a full education as to the disciplines and structures of FairFund and its current stage of development. The Application must be supported by a summary understanding by the Applicant, confirming its understanding as to why it is applying to become a Member. Acceptance by the Federation must be issued along with a Confidentiality Undertaking. Members are entitled to attend the Annual General Meeting of their FairFund Foundation where they are registered. The Member may be elected to represent that Foundation firm at the Annual General Meeting of the Federation.
The facilities detailed in this website are not subject to the provisions of the United Kingdom Financial Services Act 1986 or to any amendment thereto ("the Act") or similar legislation in any other jurisdiction. The facilities are specifically exempted from the UK Act by way of note 5 to clause 13b of part I of the Act. The author of this document is not registered as a financial adviser under such legislation, and does not offer any form of investment advice nor provide nor sell any form of investment or security as defined within such legislation. The announcement on these pages does not constitute an offer or an invitation to purchase any securities.