Clients Of Failed Reyker Securities To Get Compensation
Law360, London (October 9, 2019, 3:21 PM BST) -- Consumers who have money tied up in a failed securities company could be eligible for compensation of up to £85,000 ($100,000) each, Britain’s finance watchdog said Wednesday.
Reyker Securities, which provides investment services to private clients, asked a court to place it in special administration Tuesday after its directors failed to complete a sale they had been pursuing.
The Financial Services Compensation Scheme, which covers consumer losses when companies fail, will pay back customer assets and money shortfalls that occur as a result of Reyker's collapse.
The court appointed Mark Ford, Adam Stephens and Henry Shinners, all of Smith & Williamson...
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