Breaking News - City Equities Stockbrokers.

 

City Equities Limited was established in December 1992 and focused exclusively on the smaller companies or ‘penny shares’ sector, providing advice to the private investor.

Question.

Whats happened to City Equities Stockbrokers?

Answers and Updates For City Equities LTD.

City Equities Limited Stockbrokers 2012 accounts posted a loss of £1.48m for
the year ending November 2012 and was estimated they lost £93k a month
during 2013. During this period City Equities Stockbrokers attracted a
number of complaints for mis-selling shares, upheld by the Financial
Ombudsman Service.

As a result, a variation of City Equities Stockbrokers permissions on 29
August 2013 meant City Equities Limited were only able to transact
execution-only trades. This followed on from a ‘section 166’ request
ordering City Equities Stockbrokers to carry out a skilled persons review on
how it conducted and managed its business.

On 11 October 2013 City Equities LTD entered Administration and UHY Hacker
Young were appointed Special Joint Administrators. In a letter dated 17
October 2013 to All Known Clients, UHY Hacker Young stated the Financial
Conduct Authority request the Wind Up of the business.

City Equities were declared in ‘default’ by the Financial Services
Compensation Scheme (FSCS) on 20 December 2013. This means clients of City
Equities can submit a claim to the FSCS to the maximum limit of £50,000.
Mis-sold Shares Limited have a proven track record in representing many
claims through the FSCS to a successful conclusion.

 

  • If you have lost money as a result of advice from City Equities, please contact us NOW on 0207 183 0638 to find out more.

  • We can also offer you a FREE NO OBLIGATION telephone consultation with one of our specialists, to discuss the current situation with City Equities, your options moving forward and help with any other questions you may have.

  • We offer a 'No Win No Fee' service *Fee payable if case is not pursed at client’s request.

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