Keydata saga runs on as Lifemark securities suspended

Bonds issued by Lifemark are owned predominantly by investors in Keydata products. The provider was put into administration in June 2009 because of tax liabilities.  Lifemark's suspension follows a proposal the company submitted to Luxembourg regulator the Commission de Surveillance du Secteur Financier (the CSSF) to restructure its debt and change the terms of its bonds so they carry zero value coupons. Its bonds underpin a number of retail investment products provided and administered by Keydata, says the FSA. On 18 November, a provisional administrator was appointed to Lifemark'...