Lifemark faces a further six months in administration

Laura Miller
clock

Lifemark, the life settlement vehicle embroiled in the collapse of Keydata, has been given a further six months to restructure.

The South African company, which carried bonds underpinning the Defined Income plans of around 23,000 Keydata customers, will remain in administration until around August the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has ruled. KPMG, which is administering the troubled company, has been given greater powers to scrutinize and direct its activities. Both moves follow KPMG's latest audit report into Lifemark, said CSSF. However the CSSF stressed the extension does not stop Lifemark effecting its own structural changes: "It is important to understand that this m...

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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

PIMFA publishes non-financial misconduct guidance

PIMFA publishes non-financial misconduct guidance

In partnership with CII, CISI and Clyde & Co to help firms navigate FCA’s updated rules

Sophia Panayi
clock 23 June 2026 • 2 min read
FCA set to raise market abuse penalties and bring crypto into scope

FCA set to raise market abuse penalties and bring crypto into scope

Minimum fine raised

clock 16 June 2026 • 2 min read
Director jailed for near £9m investment fraud

Director jailed for near £9m investment fraud

Declan Nowell sentenced for ‘Ponzi-style’ investment scam

Sophia Panayi
clock 01 June 2026 • 2 min read