Pritchard Stockbrokers goes into administration

Pritchard Stockbrokers has gone into administration, the FSA has confirmed.

Timothy Ball, Roderick Weston and Alistair Wood at Mazars LLP have been appointed joint special administrators. Last month, the FSA issued a supervisory notice stopping Pritchard carrying out its business. In addition, it froze the firm's assets and the investor money and assets it held. Another stockbroker, WH Ireland, has since taken charge of assets - but not money - belonging to the majority of Pritchard Stockbrokers' customers. This means that, in the near future, former customers of Pritchard Stockbrokers will be able to start dealing again through WH Ireland. WH Ireland i...