Investment firm, Hartmann Capital, goes into administration

13 January 2014

The investment bank, Hartmann Capital Limited, is the sixth firm to go into special administration after it was discovered there was a ‘potential shortfall in client monies and regulated capital.’ UHY Hacker Young were appointed administrators on the 3rd January, the same day that Directors of the London-based firm made an ‘urgent application to the court.’

The Financial Conduct Authority (FCA) placed Hartmann Capital into special administration under guidelines set out by the Special Administration Regime (SAR) for investment banks. The aim of the regime is to support banks, creditors and customers in the administration process so a smooth transition can be made. 

Peter Kubik of UHY stated, “We have worked closely with the FCA over the past few weeks to ensure that the company’s special administration has as minimal impact as possible on the clients of Hartmann Capital Limited and we continue to work alongside the FCA to ensure an orderly distribution of client assets as quickly as possible”.

UHY emphasises the main priority at the moment is returning all clients’ assets. Once this has been completed, there will be a thorough investigation into the firm’s failings.