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Merchant Capital confirms transfer of non-cash assets to Reyker Securities

Merchant Capital has confirmed that all of the non-cash assets worth £310m that were held with Pritchard Stockbrokers have been transferred to new custodian Ryker Securities, while cash assets are still frozen.

Last month, Merchant Capital appointed Reyker Securities to handle client monies in its structured products division to replace Pritchard Stockbrokers after it was suspended by the FSA and told not to carry on any regulated activities by the FSA.

This morning, the FSA has confirmed that Pritchard Stockbrokers has entered the special administration regime and Timothy Ball, Roderick Weston and Alistair Wood at Mazars LLP have been appointed joint special administrators.  

In a letter sent to investors this week, seen by Money Marketing, Merchant Capital said some investors’ income payments have been delayed after the FSA suspended former custodian Pritchard Stockbrokers.

The letter also said: “There are some residual client cash holdings at Pritchard that will remain frozen and the FSA is working with Pritchard to understand the position with regard to these client money holdings.”



Allan Rosengren joins Signature

Rowan Dartington has appointed Allan Rosengren as relationship development director with its discretionary management service, Signature. The former Lighthouse joint chief executive is currently a partner at Heron Capital and a consultant with Rosengren Consulting. Rosengren (pictured) left Lighthouse in October 2011. He founded Falcon Group in 1983 and joined the Lighthouse board as chief […]

Lowes to launch VCT comparison website

Lowes Financial Management managing director Ian Lowes is launching a website that compares venture capital trusts. will compare vehicles from a range of providers by product type, charging structure, minimum investment and level of management experience.The site is due to launch by the end of the year. Lowes says: “The performance of a lot […]


Research shows more advisers may offer hybrid advice models

More advisers are intending to offer a hybrid model of both independent and restricted advice, according to research from Skandia. The research of nearly 1,000 advisers, which took place in the first quarter of this year, shows that 13.6 per cent of advisers are intending to offer an independent and restricted model, compared to 7.9 […]


Guide: what you need to consider for your auto-enrolment project

In this guide, Johnson Fleming reveals what items you need to understand to gauge the impact of auto-enrolment on your business. The guide focuses on: the impact that your auto-enrolment scheme will have on you; assessing your workforce; understanding your staging date; reviewing your current provision; and modelling contribution levels and costs.


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  1. I am the holder of an ARC Plan with monthly income.
    When will monthly payments resume please?

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