Keydata Investment Services Limited

8th June 2009

Keydata Investment Services Limited (Keydata) has today (8 June 2009) been placed into administration on the grounds that it is insolvent. Dan Schwarzmann and Mark Batten of PricewaterhouseCoopers LLP have been appointed joint administrators. 

The role of the FSCS

It is too early to say whether the FSCS will have a role to play in compensating customers of Keydata. The firm has not been declared in default by the FSCS. The FSCS is currently working with the FSA and the administrators to determine its involvement.

If it becomes clear that customers have suffered financial losses as a direct consequence of their dealings with the firm, and that Keydata is unable, or likely to be unable, to pay claims against it, the FSCS may be able to consider claims.

The Administrators' helpline and website 

Further information about the administration of Keydata is available from PricewaterhouseCoopers on its dedicated website and via its helpline on 0844 391 3412.

About FSCS

The Financial Services Compensation Scheme (FSCS) is the UK's statutory fund of last resort for customers of financial services firms and may be able to help consumers if an authorised firm is unable to pay claims against it. The Scheme was set up under the terms of the Financial Services and Markets Act 2000 and protects deposits, insurance, investments and mortgage business.

More information about the FSCS

Jargon Buster

  • Authorised firm

    a company, unincorporated body, partnership or individual permitted to carry out a regulated activity by the FCA or the PRA. This term includes a mutual (unincorporated) organisation, for example a friendly society.
  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • FSA

    Financial Services Authority, was previously the UK's regulator for the finance industry. It was replaced by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on 1 April 2013.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).