FSCS 'making plans' to help clients of DFM that looks after £1bn assets

'No need to make a claim at this stage'

Tom Ellis
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has said it is "making plans" to help eligible customers of troubled DFM Reyker Securities, which entered into administration on Tuesday (8 October).

Administrators Smith & Williamson (S&W) has been appointed to deal with the discretionary fund manager's special administration. It will carry out an assessment of the client money and assets held by the firm after which it will work to return as much client money and assets to customers as possible. If the firm does not hold enough client money or assets, the FSCS will cover the necessary compensation for eligible customers - up to its limit of £85,000. However, the lifeboat fund said there was no need for clients to make a claim with it "at this stage". Reyker Securities has around ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers notice growing client demand for bespoke investments

Advisers notice growing client demand for bespoke investments

Want access to ETFs, investment trusts, equities, bonds and AIM shares

Isabel Baxter
clock 17 April 2025 • 2 min read
FCA outlines final CCI ruling timeline as it brings out second consultation

FCA outlines final CCI ruling timeline as it brings out second consultation

'Detailed engagement' to continue

Eve Maddock-Jones
clock 16 April 2025 • 3 min read
Talking with… Rathbones Asset Management's James Thomson

Talking with… Rathbones Asset Management's James Thomson

The series continues as Richard Romer-Lee chats to James Thomson

Richard Romer-Lee
clock 14 April 2025 • 4 min read