By Daniel Hunter
The Financial Services Authority (FSA) confirms that Pritchard Stockbrokers Ltd (Pritchard) has entered the Special Administration Regime (SAR) on 9 March 2012 and Timothy Ball, Roderick Weston and Alistair Wood at Mazars LLP have been appointed joint special administrators.
On 29 February 2012, another stockbroker, WH Ireland announced that it had taken charge of assets (but not money) belonging to the majority of Pritchard Stockbrokers’ customers.
This means that, in the near future, former customers of Pritchard Stockbrokers will be able to start dealing again through WH Ireland. WH Ireland is in the process of informing customers of timings. The joint special administrators will review the client cash holdings positions and will return as much cash as possible directly to each client.
Customers of Pritchard should contact the joint special administrators for more information.
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