London-based wealth manager City & Merchant has entered liquidation, the UK’s Financial Conduct Authority said in a statement on 16 September.
The company, based in the Leadenhall building in the City of London, went into liquidation on 11 September 2024 with Dermot Coakley and Shaun Walker of WSM Marks Bloom LLP appointed as joint liquidators.
City & Merchant Limited is an FCA authorised firm that provided corporate finance advice, fund management and trading services.
On 14 June 2024, the regulator placed restrictions on the firm to prevent it from conducting any regulated activities.
On 14 June 2024, the regulator had taken action against City & Merchant to prevent it from conducting any regulated activities after it failed to pay two Financial Ombudsman awards to clients and had not provided accounts and other information required.
It was ordered to halt Part 4A regulated business (most retail finance business) without express FCA approval for individual tasks.
More detail in the earlier FCA statement can be found here.
