Beaufort

ShareSoc demands fair treatment for Beaufort clients

Press Release 104 - ShareSoc demands fair treatment for Beaufort clients The liquidation of Beaufort Securities on the FCA's instruction is targeting the ring-fenced property of thousands of UK private investors, many of whom are now facing losses of up to 40% of the value of their holdings. The liquidator's proposals bring into question the whole system of regulatory and legal protection of investors in the UK. The Financial Conduct Authority (FCA) declared Beaufort Securities Limited (BSL) and sister company Beaufort Asset Clearing ...

Beaufort Administration, Intercede and the Mello Conference

Yesterday I attended the first day of the 2-day Mello investor conference in Derby. There were lots of good presentations and some interesting companies to talk to. One hot topic of conversation was the collapse of Beaufort which was forced into administration (see two previous blog posts on the topic for details). There are apparently many people affected by it. There are a number of major issues that have arisen here: The administrators (PWC) have suggested it might cost as much as ...

ShareSoc Demands Investigation in Wake of Beaufort Securities Revelations

As part of our campaign to improve the AIM market,  ShareSoc Director Mark Bentley has today written to the Head of AIM inquiring what actions the AIM regulatory team is taking to investigate whether scams of the type alleged by US authorities have been conducted on the AIM market, which seems highly likely to us, and lies at the root of why we are seeking reform of AIM regulation. See this blog post for details of the allegations. Today's letter can be seen ...

Beaufort and the Regulators: US Prosecutors Expose Wide Ranging Scam

News began to emerge yesterday of problems at broker Beaufort Securities. Firstly, the FCA posted this RNS stating that brokerages Beaufort Securities Limited and Beaufort Asset Clearing Services Limited had been placing into insolvency, must cease all regulated activities, and that administrators had been appointed who would seek to protect client assets. Not long after, this indictment by the US Securities and Exchange Commission (SEC) came to light, alleging market manipulation in the US by Beaufort Securities and the individual Peter Kyriacou. ...