Merchant House Group told shareholders its client cash monies held by Pritchard will not be released unless the Financial Services Authority (FSA) allows it.
The release follows an announcement by the regulatory body stating that Pritchard had gone into administration.
Timothy Ball, Roderick Weston and Alistair Wood at Mazars LLP have been appointed joint special administrators.
The monies remain subject to the original supervisory notice issued by the FSA on February 10 stating that as a result of Pritchard failing to arrange adequate protection for clients assets, it was not allowed to release assets without written consent.
Pritchard had originally acted as custodian for the structured products division of Merchant Capital, itself a division of Merchant House Group.
The cash monies belong to clients of Merchant Capital.
However, 100% of the non-cash assets belonging to the clients of Merchant Capital, with a total value of £310m have been transferred to Merchant House Group's new custodian, Reyker securities, appointed on February 17.
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