Reyker Securities’ Clients Received 98.25% of Their Money
Mar 17, 2022
The administrators are still receiving claims from the collapsed firm’s clients. The company entered into administration in 2019. Thursday, 17/03/2022 | 10:36 GMT
Additionally, it has transferred 98 percent of the transferable custody assets to the nominated brokers. Related content
Funds of all customers of any UK-regulated financial services are insured up to £85,000 under the Financial Services Compensation Scheme ( FSCS ). Moreover, the administrators of Reyker paid 87.25 pence in the pound to all the claimants whose funds were not protected under the government’s compensation scheme. A Collapsed Company
Reyker entered into special administration in 2019 after it suffered 'financial difficulties' because of its links to collapsed structured products provider Merchant Capital. Also, the owners of the company sought a buyer, but that deal fell through, the Financial Conduct Authority confirmed earlier. The administrators further warned the claimants against any fraudsters who are seeking money under the disguise of the authorities with false promises of returning their money and assets. Furthermore, they have urged all the remaining claimants to submit their claims to avoid losing entitlement to their funds. The joint special administrations of the collapsed asset manager Reyker Securities Plc said on Thursday that a vast majority of the company clients have received 98.25 percent of their money. ADVERTISEMENT
Additionally, it has transferred 98 percent of the transferable custody assets to the nominated brokers.