Merchant Capital appoints Reyker Securities as SP custodian

Reyker will replace Pritchard Stockbrokers, which stopped providing services following enforcement action from the FSA on February 10. The FSA's supervisory notice said Pritchard had failed to arrange adequate protection for its client's assets and allowed client money to be used on its own account. As a result, it said the company was no longer permitted to carry out any of the regulated activities listed in its part IV permissions. Reyker is authorised and regulated by the Financial Services Authority, a member of the London Stock Exchange, Euroclear, and APCIMS, and is also auth...