Wealth manager City & Merchant has entered liquidation, with the Financial Services Compensation Scheme (FSCS) having opened customer claims.
The firm went into liquidation on 11 September and Dermot Coakley and Shaun Walker of WSM Marks Bloom were appointed as joint liquidators. In an update posted by the lifeboat fund on 13 September, it confirmed that it is now open to customer claims. City & Merchant is a Financial Conduct Authority (FCA) authorised firm that provided corporate finance advice, fund management and trading services. On 14 June, the FSCS placed restrictions on the firm to prevent it from conducting any regulated activities. This came after the FCA had "serious concerns" that City & Merchant had not b...
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