FSCS starts Hartmann Capital payouts

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...