Reyker Securities plc | FCA

Reyker had until last week been undertaking an accelerated sales process, but it has not proved possible to conclude that sale. Although it remains open to potential acquirers of the business, in light of its financial circumstances, the directors of Reyker are taking immediate steps to place the company into special administration under the Investment Bank Special Administration Regulations 2011. 

Reyker continues to hold and safeguard client money and custody assets, however at this time it is not able to return these to clients.  These will be dealt with by the special administrators following their appointment in accordance with the special administration regime. 

Following an application by Reyker, the Financial Conduct Authority (FCA) imposed certain regulatory requirements on Reyker. These requirements place restrictions on Reyker effectively stopping all movement of client money or asset.  Apart from in a few specific circumstances (such as receipt of dividend payments), it is not permitted to either receive any new client money or custody assets or to pay away client money or custody assets. 

Reyker has also decided to not conduct any further business or any other regulated activities including in relation to its role as the delegated Investment Manager of the VT Reyker Real Assets fund. 

The FCA is, and will remain, in frequent contact with Reyker.

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