Company providing ISA wrappers to unregulated bonds collapses; LCF administrator appointed

Asset manager Reyker Securities has been placed into special administration.

Reyker was mostly known as a stockbroker and Discretionary Fund Manager, but part of its business involved approving promotional literature and providing an ISA wrapper to two investments reviewed here: Blueprint Bond and Astute Capital.

Both Blueprint and Astute Capital remain in business and should in theory be largely unaffected by Reyker’s collapse, as the ISA status of investors’ funds should remain valid despite the administration.

They will however be unable to raise further money via Reyker ISAs.

Reyker Securities ran out of money after a failed attempt to sell the business, plus unspecified “legal actions being faced by the company” and the downturn in the structured product market.

Smith and Williamson have been appointed as administrators, who are also currently overseeing the collapse of London Capital & Finance, Park First and Krono Partners.

One thought on “Company providing ISA wrappers to unregulated bonds collapses; LCF administrator appointed

  1. over 1 year on, Smith and Williamson have gone to court on 16 October to request approval on another redistribution of the investors fund, to my surprise I was told by Smith and Williamson, my investment will go to another broker, they will be writing to all investors in next 2 weeks I hope.

    I disproved, they said the court gave us the green light, if again my fund are moved to about to collapse broker fca or not fca regulated, why in the planet, do I have to chase a broker to get my money back.

    Delay tactics or otherwise, it seems to me that the law and the financial institutions in UK are far from being reasonable , I won’t be investing anymore in the UK unless the law changes and proves on the ground that investors money are promptly repaid if an FCA investment fails.

    I propose for FCA to create a new division of administrators team who will take over such task, take back control or lose investment your call

    https://smithandwilliamson.com/en/services/restructuring-and-recovery-services/reyker-securities-plc/

    Like

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