IFA consolidator Moneygate says it has been carrying out due diligence on beleaguered national Clarkson Hill for three months with a view to making an offer but has been forced to review its position after the IFA was prevented from carrying out regulated activities.
The decision comes after regulatory permissions for Clarkson Hill were varied by the FSA, which meant it was unable to undertake any regulated activities from 5pm on 3 December 2010. Moneygate says it has made a number of attempts to talk with the directors of Clarkson Hill over the past two weeks in order to ascertain the current position but they have yet to "re-engage in constructive discussions". In a statement, the group says:"The directors of Moneygate have a great deal of sympathy for advisers, staff and clients of Clarkson Hill who they believe will be keen to know what the i...
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