NDF (GEB provider) in administration

ctdctd

I used to have one of their GEB's - thankfully not now!

http://www.telegraph.co.uk/finance/personalfinance/investing/6327039/NDFA-and-DRL-structured-product-investors-have-income-payments-frozen-as-firms-placed-in-administration.html

EdInvestor

This disaster follows the collapse of Lehman Bros a year ago so the regukator has acted with lightning speed (not!):rolleyes::rolleyes:

This announcement follows an extensive Financial Services Authority (FSA) review of structured products and subsequent discussions with the firms. The FSA's review looked at the UK structured products market, including those backed by Lehman, and as part of this review examined the firms' systems and controls and marketing literature.

And one of the first ports of call would have been .......

.

NDFA have sold more than £1.6bn of investments and have launched over one hundred and fifty structured investments in the past decade.

Not least because the last time we havd this kind of disaster, guess who was in the frame?

It was also involved in the precipice bond scandal that resulted in investors losing tens of thousands of pounds at the turn of the millennium.

Bikertov

I have spotted that Grant Thornton (the Administrators) have set up an information website for NDFA:

http://ndfa.creditorhelpline.co.uk

Hopefully they will update it with information as it becomes available ...