Exeter Asset Management and Teather & Greenwood have both agreed to contribute a combined fund to the split-caps compensation payout worth £1.3m, in a deal separate to the larger package negotiated at Christmas.
In statements just issued by the Financial Services Authority, Exeter will contribute £1m to the “Fund Distribution Limited” compensation settlement fund, following the FSA’s investigation into their activities and management of split-capital investment trusts between September 2000 and February 2002. Teather & Greenwood, the stockbroking firm, will also contribute £300,000 to the fund as it acted as a broker and adviser to investors at that time. However the FSA says both contributions are no admission of liability but will increase the compensation for eligible investors – which is ...
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