Facet Investment Management Ltd (01931757): administration
- Status
- In administration
- Administration began
- 2024-08-23
- Administrators
- Ian Lawrence Goodhew, Abigail Shearing
- Administrators' firm
- Financial Partners
- Formerly
- Financial Advisors To Consultants Engineers and Technologists Limited; Financial Advisers To Consultants Engineers and Technologists Limited; Graham Roberts Financial Management Limited; Graham Roberts Life Limited
- Incorporated
- 1985-07-18
- Location
- London
- Industry
- 66220 Activities of insurance agents and brokers
Why it went into administration
- Regulatory change or action
From the administrators' statement
The Company, as previously mentioned, was experiencing financial difficulties, these difficulties came to the fore when protected funds received from the Company’s insurer by the Company in respect of adjudicated FOS claims were utilised in the dayto-day management of the Company.
Given the financial position of the Company, requirements were placed by the FCA on the regulated activities that the Company could operate under. These requirements were effective on 26 June 2024 and include restrictions on the Company’s regulated activities and on dealing with assets of the Company.
The Company consequently sought to achieve a sale of the business and its assets, however, whilst there were a number of interested parties, it was not possible to finalise the sale.
Administrators' statement of proposals (2024-10-30) · Companies House register