On 1 July 2022 Alexander David Securities Limited (ADSL) entered creditors’ voluntary liquidation and Shane Cooks, Emma Sayers and Malcolm Cohen of BDO LLP were appointed as joint liquidators.
We set out below the steps ADSL clients can take if they are concerned about any investments arranged or promoted by ADSL or its appointed representatives, how clients can contact the liquidators, and steps that people can take to protect themselves against scams from any fraudsters who may be claiming to act on behalf of the firm or the joint liquidators.
ADSL is an FCA regulated firm which was authorised to conduct investment related activities. ADSL provided corporate finance advisory services which included initial public offerings, secondary fund raisings, mergers and acquisitions, and debt offerings. It also undertook some other unregulated activities.
Authorised firms like ADSL may provide regulated activities through appointed representatives. An appointed representative (AR) is a firm or person who carries on a regulated activity on behalf, and under the responsibility of, a firm authorised by the FCA (the principal). In appointing an AR, the principal assumes responsibility for the regulated activities the AR carries out. ADSL previously had four appointed representatives (ARs) which are listed below. These are no longer ARs of ADSL.
Beer & Young Limited (06/11/2015 to 15/03/2017)
OS Wealth Management Limited (25/05/2018 to 09/08/2018)
St. Pauls Marketing Limited (12/10/2016 to 15/08/2017)
Templeton Securities Limited (15/07/2013 to 19/08/2015)
ADSL had permission to hold and control client money until 29 June 2020 when the firm agreed voluntarily to requirements preventing it from doing so, following FCA intervention.
Following the application of voluntary requirements on 29 June 2020 and subsequent regulatory action, on 29 April 2022 we imposed a number of requirements on ADSL which can be seen on the firm’s entry on the Financial Services Register. The reasons for these requirements can be found in the First Supervisory Notice.
The joint liquidators have been appointed to wind up ADSL for the benefit of its creditors and will be writing to all known creditors shortly to explain what this means and how to make a claim. You can find the latest developments on their website.
If you believe you have a claim against the firm and do not hear from the joint liquidators by 8 July 2022 then please contact them using the following contact details:
Firm Name: BDO LLP
Address: 55 Baker Street London W1U 7EU
Email: [email protected]
Telephone: +44(0) 207 034 5884