Many Keydata investors have not received their monthly income payments in November, with administrators unable to confirm when the money might resurface
The news comes as one of Keydata's major counterparties, Lifemark SA, is put into provisional administration by Luxembourg's regulator. Investors began reporting they had not received income payments on their Secure Income Plans (SIP), Defined Income Plan (DIP) and Secure Income Bond 4 (SIB4) investments in late October. Administrators PricewaterhouseCoopers (PwC) originally told investors an administrative issue was the cause of the missing payments, but could give no indication as to when income might be paid. However on 20 November, Lifemark SA, a traded life policy manager whic...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes