The Financial Services Compensation Scheme (FSCS) is to start compensating investors in failed investment group Hartmann Capital.
The scheme said it will soon start paying out to those investos who have already agreed their account balance with the wound up firm's special administrators. Hartmann Capital was prohibited from carrying out regulated business by the Financial Conduct Authority (FCA) last year after the regulator discovered a client money shortfall of £1.5m. The FCA also imposed immediate sanctions on the firm, including a stop on releasing client money and termination of derivative contracts, saying it was concerned the firm would increase the shortfall in its client money accounts if it continued t...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
