Can deposits made by investment firms on behalf of their clients,

where the individual clients and their amounts are identified or

identifiable, be considered eligible deposits for the purpose of
DGSD? Please consider that investment firms haven't got a right
over their clients money and they are obliged to put them in a
bank or another institution.

Commission
Money deposited by credit institutions and investments firms is not eligible
for DGS protection.
However, where the depositor is in fact the customer of a bank or a firm,
then he/she can be eligible. This can happen in two situations:

directly, if the money was deposited at their name;

indirectly, via the see-through clause in Article 7(3), if they are
absolutely entitled to the funds and they are identified or
identifiable by the time of the determination of unavailability. The
criterion of the absolute entitlement is not defined and must be
resolved under national law.

Article 7 para 3 of Directive 2014/49/EC:

3. Where the depositor is not absolutely entitled to the sums held in an
account, the person who is absolutely entitled shall be covered by the
guarantee, provided that that person has been identified or is identifiable
before the date on which a relevant administrative authority makes a
determination as referred to in point (8)(a) of Article 2(1) or a judicial
authority makes a ruling referred to in point (8)(b) of Article 2(1). Where
several persons are absolutely entitled, the share of each under the
arrangements subject to which the sums are managed shall be taken into
account when the limit provided for in Article 6(1) is calculated.