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COMPENSATION

If you have any clients invested in the Keydata/SLS/ LSC bonds, then this letter may be of interest to you.

I was an investor in the Keydata secure income bond. Having subsequently been informed that I would not be adequately compensated by the Fin-ancial Services Compen-sation Scheme, I decided to take action to recover my money in full and established the Keydata-SLS-LSC Investors’ Trust Action Group.

The Action Group represents the interests of those who invested in Keydata secure income bond 1, 2 and 3 and bonds issued by SLS Capital SA and Life Settlements Capital SA. We cannot represent those who invested in other Keydata products or third-party products administered by Keydata such as Lifemark.

The sole objective of the group is to recover the losses suffered by investors who have not been suitably compensated by the FSCS. We will do this by targeting the various counterparties who were paid to protect investors’ money but failed to do so. The action group does not believe IFAs are to blame and so will absolutely not target any IFAs for compensation.

We want other IFAs to support us and help to secure the return of their clients’ investments.

We want affected investors to register with us and then ultimately to join the group. For more information please visit the action group website www.ksl-it.com or email administrator@ ksl-it.com and a member of the action group will call you and answer any questions.

ANTHONY LAHERT
On behalf of Keydata-SLS-LSC
Investors’ Trust Action Group

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Exasperated me 20th May 2010 at 11:32 am

    There is no such thing as a guaranteed investment, the compensation machine has lulled consumers into a false sense of security, it might even encourage them to take risks they would not normally contemplate.

  2. To EM – The issue with keydata is not one of an investment loss/risk scenario, but one of fraud issue 1. £103 million being sold from under the nose of the custodian bank with the proceeds ending up elsewhere and issue 2. A Life settlement model which appears to eitehr have been fatally flawed from day one or where charges deducted have been disproportianate.
    Keydata were an FSA authorised and regulated firm and as such an investor can rightfully expect that although investment losses are part and parcel of investing as opposed to saving, that a regulated firm will act in a fit and proper manner and that any concern of the regualtor will be acted on.

  3. For Tony Lahert:
    Thanks for your letter of 11 June.
    My keydata investments are
    Defined Income plan issue 5 (5 yr., 2008
    Secure Income plan issue 10 (5 yr., 2007)
    taken to provide monthly income which last rcvd 5 months ago.
    No help from PWC or FSCS. Can you give me any lead at all as to how to proceed? Any info. gratefully rcvd. Thank you.

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