Wednesday 01 Jul 2009 @ 11:26
FSCS
FSCS
 Printable version
|
 E-mail this to a friend
|
Keydata Investment Services Limited - Update
- Keydata Investment Services Limited was placed into administration on 8 June 2009. Dan Schwarzmann and Mark Batten of PricewaterhouseCoopers LLP, known as PwC, were appointed as joint administrators.
- As administrators of Keydata, PwC have assumed control of the company and are currently seeking as a matter of urgency to establish whether funds invested in certain Keydata products are secure. In addition, we understand that PwC and HM Revenue & Customs are looking into the tax status of certain products with which Keydata was involved. This is a complicated situation and it may take some time for the facts to become clear.
- The FSCS is the statutory compensator of last resort for retail customers of authorised financial services firms that cannot meet their liabilities. If it emerges that Keydata has caused retail customers to suffer a financial loss, and it cannot meet its liabilities to them, the FSCS may well be able to help.
- Meanwhile, we are working closely with PwC to understand as much as possible about what has occurred, so that if there is compensation for us to pay, we will be ready to step in as quickly as possible. If that happens, we and PwC will work together to ensure that investors know how to make a claim for compensation.
- The FSCS will be updating its own website as soon as any new information becomes available. You do not need to contact the FSCS at this stage.
- Further information is available on the administrators’ dedicated website, www.pwc.co.uk/KIS, or their dedicated customer helpline on 020 7804 4424.
