From the administrators' statement

In providing the detail within this section, the joint administrators have relied entirely upon information and explanations provided by the company’s directors and senior management.

DSL commenced trading as a retail stockbroker in 1999, producing a successful track record over the ensuing 6 years.

Problems arose following a regulatory investigation by the FSA into the operational conduct of an authorised representative, First Colonial Investments LLP, the results of which published in February 2010 led to DSL being fined £101,500 and ordered to pay compensation of £385,000.

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Direct Sharedeal Limited (SC188017)

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