PwC appointed administrators for Beaufort Securities as Financial Conduct Authority declares firm insolvent. Up to 20,000 clients have invested in products such as ISAs and Pensions and are owed around £700m..!!

#Investors-Group: News

Financial Conduct Authority declares Beaufort Securities insolvent

I was scanning my news feeds earlier and came across this story I thought I would share with you.

Beaufort Securities has been declared insolvent by the UK’s financial watchdog.

Credit to cityam for the content in the following article.

For the ones that that may have missed this story, here is the link...

http://www.cityam.com/281556/pwc-appointed-adminstrators-beaufort-securities-fca

Credit: cityam

Up to 20,000 clients have invested in products such as ISAs and Pensions and are owed around £700m, which has been divided as £664m assets and £36.85m in cash. It is not yet known how much of that will be recovered.

Credit: cityam

Thanks for reading.

Stephen

Disclaimer

Please note that the above information is for educational purpose only and is not to be taken as investment advice.