Pritchard Stockbrokers Limited Calls in Mazars Administrators

Jack Humphrey, Regulatory journalist
May 04, 2012 /

Pritchard Stockbrokers Limited, which went bust on 9 March 2012, has called in administrators from the consultancy firm Mazars LLP.

The FSCS is working with the Special Administrators to determine the best process for ensuring customers of the firm receive compensation quickly.

The Special Administrators will be contacting clients for them to agree their account balances, which is critical to paying compensation.

The FSCS will use these agreed balances to determine the compensation amounts people will receive, and is liaising with the Special Administrators to get this information as quickly as possible.

Any customer of Pritchard Stockbrokers Limited who believes they may have a protected claim against the firm should contact FSCS’s Initial Contact Team.

Last February, the Financial Services Authority in UK suspended the trading of Pritchard Stockbrokers after it allegedly used client money to meet its own expenses. The FSA then froze Pritchard’s assets.

 

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