Merchant Capital clients' cash assets frozen in Pritchard

The release follows an announcement by the regulatory body stating that Pritchard had gone into administration. Timothy Ball, Roderick Weston and Alistair Wood at Mazars LLP have been appointed joint special administrators. The monies remain subject to the original supervisory notice issued by the FSA on  February 10 stating that as a result of Pritchard failing to arrange adequate protection for clients assets, it was not allowed to release assets without written consent. Pritchard had originally acted as custodian for the structured products division of Merchant Capital, itself a...