Keydata Investment
Services Ltd

30 June 2009

PricewaterhouseCoopers LLP (PwC), the administrator of Keydata Investment Services (Keydata), has announced today that it has had to freeze some interest payments and some redemption rights to anyone that owns the following Keydata products:

• Secure Income Bond 1, 2 and 3
  If you have invested in any of these products, no income can be paid to you at the moment and you cannot reclaim your investment. PwC will be writing to customers due an interest payment today.
  
  
• Income Property Bond 1-6
  If you have invested in any of these products, no income can be paid to you at the moment and you cannot reclaim your investment.
  
  
• Secure Income Bond 4, Secure Income Plan 1-12 & 14 and Defined Income Plan 1-8 Special Editions and other Lifemark branded products
  If you have invested in any of these products, you will continue to receive income from the investments as normal, but you cannot get your capital (money invested) back until further notice.

People with money invested in the funds where Keydata provided third party administration services and those backed by major financial institutions are not affected their investments are safe.

Keydata operates from three locations in London, Glasgow and Reading. It designs, distributes and administers its own structured investment products; and also portfolios for third parties.

What happens next?

If it emerges that Keydata has caused customers to suffer a financial loss and cannot meet its liabilities, then the Financial Service Compensation Scheme (FSCS) may be able to help.

PwC will be regularly updating their website or you can call their helpline on 020 7804 4424, but at this stage no further information is available.

Backgound

On 8 June 2009 we placed Keydata into administration and suspended the firm from carrying out any regulated activities because we had concerns about the firms financial position. We wanted to protect customers while a full assessment was carried out and appointed insolvency specialists from PwC to carry out an assessment and manage the firm in the meantime.

Disclaimer

News articles on this website are accurate, to the best of our knowledge, only at the date of publication. If the information they contain changes, follow-up articles may be published.

http://www.moneymadeclear.fsa.gov.uk/news/firm/2009/keydata.html