Telesto Markets LLP (OC388442): administration
- Status
- In administration
- Administration began
- 2016-09-22
- Administrators
- Edward John Macnamara, James Cameron
- Administrators' firm
- PwC
- Incorporated
- 2013-10-10
- Location
- London
Why it went into administration
- Regulatory change or action
From the administrators' statement
The Companies were incorporated at different times in the period between 2003 and 2014 They are part ofa wider group which additionally comprises SCP, which 1s in Special Administration, and other companies which are not In an insolvency process SGH 1s the sole shareholder of each Group entity
Between 2011 and 2015, the Regulated Entities provided investment services to their chents SGS was a service company to the rest of the Group and SGH was a holding company within the Group Management information indicates that in the nine months to December 2015, the Group’s revenue was £14 6m
During 2015, the Group became subject to criminal and regulatory investigations, both in the UK and abroad These investigations are ongoing and a consequence ts that the Administrators are currently bound by confidentiality restrictions which greatly limit the level of information we are able to provide concerning the Companies’ backgrounds and actions that we have taken since we were appointed.
Administrators' statement of proposals (2016-11-23) · Companies House register