Insolvent Keydata Cash Safe?
Published / Last Updated on 09/06/2009
Insolvent Keydata Cash Safe?
Keydata Investment Services, the specialist structured investment product provider and investment fund manager, was placed into administration on Monday.
The financial services industry regulator, the Financial Services Authority, appointed PWC as administrators amid concerns over negotiations by Keydata with HMRC over a £0.5m tax liability.
The investment house has nearly £3bn under management on behalf of investors and there have been obvious concerns from investors as to the safety of their investments.
There is significant interest from outside parties in acquiring the Keydata Investment Book as administrators look to sell off assets. In simple, terms this means that investor money should be safe.
If deals cannot be reached, then the Financial Services Compensation Scheme protection for investment companies will come into play.
See Investor Compensation Limits
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