Intelligent Money Limited (04398291): administration
- Status
- Administration ended
- Administration began
- 2024-05-28
- Administrators' firm
- Interpath Advisory
- Formerly
- Pensionwise Limited
- Incorporated
- 2002-03-19
- Location
- London
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Regulatory change or action
From the administrators' statement
As stated above, the Company’s financial position and solvency status was materially adversely impacted by a significant number of redress complaints which were referred to FOS. The basis of these complaints was that the Company had not historically complied with certain regulatory due diligence obligations.
In total, the Company was aware of 98 redress complaints which had been submitted to
FOS. The Company estimated that the likely value of redress associated with these complaints in the event that FOS upheld all of them was £14 million. In addition, the
Administrators' statement of proposals (2024-06-19) · Companies House register