Merchant Capital investors face new charges from Reyker

Nicola Brittain

The custodian of ex-Merchant Capital structured products, Reyker Securities, has said it will levy charges on about 12,000 people invested in the schemes.

The move follows the collapse of the provider and its parent Merchant House Group. The custodian did not receive fees for its services. Reyker took over as custodian and administrator for Merchant Capital from Pritchard Stockbrokers in March 2012. Pritchard Stockbrokers then went into administration in April 2012. Reyker said it could not guarantee the level of charges but predicted on a typical £25,000 plan that it would charge a minimum of £75 per annum, £115 per annum for a capital plan and £195 per annum for a monthly income plan. It also predicted a lifetime cap on charges of ...

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