Mark Ford, Adam Stephens and Henry Shinners of Smith & Williamson LLP were appointed Joint Special Administrators (“the JSAs”) of Reyker Securities Plc (in special administration) (“Reyker”) on 8 October 2019.
Updates on the progress of the Special Administration, together with links to key documents, are provided on the JSAs’ dedicated website www.smithandwilliamson.com/reyker-securities-plc. You can also access more information at www.fscs.org.uk and https://www.fscs.org.uk/failed-firms/reyker-securities/
Bar Date and Client Claim Portal
The Joint Special Administrators have now set a Bar Date of 17.00 hours on 7 April 2020.
The Bar Date is the deadline for Clients to submit their claims in respect of Client Money and Custody Assets.
By way of summary:
- In the case of Client Money, all Client Money held by the Company on behalf of its Clients as at 8 October 2019, being the date of the JSAs’ appointment, is deemed to fall within the Client Money Pool. Clients with Client Money balances need to agree and submit a claim for their share of the Client Money Pool.
- Clients with Custody Asset holdings as at 8 October 2019, being the date of the JSAs’ appointment, need to agree and submit a claim in respect of the Client Assets held for them by the Company at this date.
For any Client who does not submit a claim via the Client Claims Portal (see below) by the Bar Date, the JSAs intend to effect the transfer of assets to the purchaser based on the Company’s records in accordance with the Regulations, however, this means that any Client who does not submit a claim will lose the opportunity to dispute any of the holdings shown on their statement.
The JSAs are mindful and sympathetic to recent global events and, accordingly, will continue to keep the Portal open and allow Clients to confirm their claim and, if relevant, make a claim for FSCS compensation for a further limited period of time. Any Clients that have not yet submitted a claim are strongly encouraged to do so as soon as possible.
For further details on the process and how to submit a claim via the online Client Claim Portal please refer to the JSAs’ dedicated website www.smithandwilliamson.com/reyker-securities-plc
To access the Client Claim Portal to submit your claim by the Bar Date being 17:00 hours on 7 April 2020 please use the following link: https://reykerportal.com/login
WARNING – Fraudulent communication
- The JSAs have been made aware that some Clients have recently received fraudulent communications in which they have been advised that either their Client Assets are not safe or, alternatively, that the JSAs are seeking to return their assets within the next 30 days and that an upfront bank transfer is requested in order to release their Client Assets. This information is incorrect.
- ALL ASSETS HELD BY REYKER ON BEHALF OF ITS CLIENTS REMAIN SAFE AND UNDER THE CONTROL OF THE JSAs. NO PAYMENTS SHOULD BE MADE TO ANY THIRD PARTY TO RELEASE CLIENT ASSETS.
- Fraudsters are using fake website domain names or email addresses to impersonate Reyker, such as ‘email@example.com’, and may be masking their caller IDs to appear connected to Reyker, Smith & Williamson or other intermediary providers.
- All Clients should remain vigilant to such fraudulent communications.
- If you are in any doubt regarding the legitimacy of any communication regarding the special administration, please refer to the information provided on this webpage in the first instance or contact the JSAs directly on 0800 048 9512 or, alternatively, at either firstname.lastname@example.org or email@example.com. Further information can also be found at https://www.fca.org.uk/consumers/protect-yourself-scams.
- If you have lost money as a result of a scam, you should contact Action Fraud on 0300 123 2040 or visit www.actionfraud.police.uk.
Should you have any queries, the JSAs have a dedicated telephone, website and email address for affected parties. These are:
Telephone: 0800 048 9512
Website: www.smithandwilliamson.com/reyker-securities-plc and www.ips-docs.com
Mark Ford, Adam Stephens & Henry Shinners
Joint Special Administrators
The affairs, business and property of Reyker are being managed by the Joint Special Administrators who act as agents of the Company, without personal liability. Mark Ford, Adam Stephens and Henry Shinners are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. Reyker remains authorised and regulated by the Financial Conduct Authority. FCA reference number 115308. Registered in England No. 01747595