Reyker Securities, the custodian and administrator for the structured products division of Merchant House, Merchant Capital, has terminated its relationship with the company with immediate effect.
The company is not prepared to give the reasons for this move. Reyker was appointed custodian and administrator of the division after the previous custodian, Pritchard Securities, was put into special administration by the Financial Services Authority (FSA) in February. A notice to advise all clients of the termination of the contract was posted on the Reykers website on 21 December last year. The notice stated: "Reyker has decided that it can no longer continue to provide any services to Merchant and accordingly we have entirely ceased our business relationship with Merchant imm...
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