Administrators for Keydata Investment Services have found more products that
could fail to meet ISA rgulations.
The total list of products which may be impacted is: Secure Income bonds
(SIB) issues 1 – 3, Secure Income Plan (SIP) issues 1-12 and 14 and Defined
Income Plans (DIP) issues 1 – 8.
‘We do not expect any further products to be added to this list,’ said PwC
partner and joint administrator Dan Schwarzmann.
He is ‘hopeful’ of a sale of the business as a going concern by the end of
next week, with 30 expressions of interest for the business.
‘This will bring some much needed certainty to the thousands of investors,
IFAs, staff of the company and other impacted stakeholders,’ he added.
Keydata was placed in administration after it was found it ran investment
products non-compliant with regulations, in turn leaving it with a £5m tax
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies