Opening Hours: Mon - Fri: 9:00 - 17:30Phone. 0800 464 7767.

there is also a case for a fraud investigation to be put in motion. Firms are required to be authorised by the FCA if they undertake any of the regulated activities listed in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the Order). We would therefore be grateful if all enquiries could be emailed to the office relevant to your enquiry. Which, if claims on the FSCS are successful en masse, will be converted into another load of subsidy from the general public. B&G commissioned another independent review, which “portrayed a positive situation with minimal issues identified in respect of UB’s systems and processes”. However, we the administrators, are officers of the Court and have to comply with insolvency law.

The relevant FSCS eligibility criteria can be found on the FSCS’s website, www.fscs.org.uk/your-claim/eligibility-rules. Despite Basset & Gold’s literature claiming that investments were “backed by assets, such as property, corporate debentures and other forms of security in order to PROTECT our investments and your capital”, virtually all of investors’ money was loaned to a payday lender called Uncle Buck. It is believed that the completed independent business review concluded that UB should be able to repay the debt due on time but this was contingent on B&G continuing to fulfil its obligation to UB by virtue of continuing to fund UB’s activities as a HCSTC [payday loans] provider. 3 For other creditors. We have prepared this document to help Bondholders and other creditors understand the process. The administrators said that for all enquiries, customers should contact bassetgold@harrisons.uk.com or call 0800 464 7767. Please be aware that the system has limited functionality and, for instance, you will not be able to actually make withdrawals.

Please refer to the Basset & Gold website for further updates.

and again the answer is yes. The Order excludes certain activities from its scope.

Although there is no legal definition of a mini-bond the term usually refers to illiquid debt securities marketed to retail investors. The Joint Administrators will also commence work to identify all creditors of the Company in accordance with their statutory duties and obligations under the Insolvency Act 1986. However if you recall receiving advise from a financial adviser in connection with your B&G bonds then you should contact that financial adviser directly.

The Companies’ loans to borrowers (Uncle Buck being the main borrower) are the major asset of the Companies. We are in the process of contacting HMRC and Gallium regarding all of the Bondholders who have invested in their B&G bonds by way of ISAs promoted by Gallium as an ISA manager, ordinarily they will correspond with bondholders once they have completed their investigations in this regard. Also, the provision of mid-term loans and some dealing with property.

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Sections.

B&G referred customers wanting to hold their B&G mini-bonds in an IFISA to a third party fund ISA manager called Gallium. (Photo by Clive Brunskill/Getty Images) West Ham will now have to go on the hunt for a new sleeve sponsor. Basset & Gold employed an independent firm to carry out a due diligence exercise into Uncle Buck. The information currently available on the Companies’ platform is based on the Companies’ records at the time of the Administration. Basset & Gold Plc is not authorised by the FCA. Nothing posted here should be considered financial advice or an opinion as to the suitability or unsuitability of any investment. The initial target for the business was to provide everyday investors with fixed interest returns, that were easy to understand, using fixed income investments with no additional fees involved.

The ones who should be jailed are the unregulated smooth talking introducers on 20/25 % comission. and the answer is ”of course yes that was their intention.

Likewise, if you have been granted Power of Attorney by a Bondholder, please notify the joint administrators accordingly. Yes, we are in contact with both the FCA and the FSCS and anticipate this will continue into the foreseeable future.