Wind-down Policy
At Prosper, we take our responsibility as a regulated business seriously. As part of our commitment to our clients, we have a formal Wind-down Policy in place. This policy outlines the steps we will take in the event that our Board decides to wind-down the business.
Our Wind-down Policy
Our Wind-down Policy includes a process for communicating with our clients in the event of a wind-down. We understand that this can be a stressful and uncertain time for our clients, and we want to ensure that they are kept informed every step of the way.
Communication with Clients
In the first week of a wind-down, we will communicate with all of our clients to explain the situation. This communication will include the following information:
Client Contact
Our wind-down plan stipulates that we will make at least 5 attempts to contact each client over the following 4 weeks. We understand that communication is key during this time, and we want to ensure that our clients are aware of their options and have the opportunity to ask any questions they may have.
Finalising Client Outcomes
Our goal is to finalise client outcomes within 6 weeks, while the final wind-down of the business is planned to take up to 12 weeks. During this period, our team will be available to discuss options, answer questions, and help manage the transition.
What Happens if We Don't Hear from a Client?
In the event that we do not receive any communication from a client by week 4, we will work with our custodian to determine the best outcome for that client. This outcome will be determined in consultation with our custodian and will be in the best interest of the client.
Our Commitment to Our Clients
We understand that a wind-down can be a difficult and uncertain time for our clients. That's why we are committed to keeping our clients informed, answering any questions they may have, and helping them through the transition process. Our goal is to ensure that our clients' best interests are always at the forefront of our wind-down plan.
Thank you for choosing our company. We appreciate your trust and support, and we are committed to providing the best possible outcome for our clients in the event of a wind-down.
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