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City Equities

Declared in Default October 2013 – Max Compensation £50k

City Equities Limited (CE), established in 1992, was one of the larger firms operating in the ‘penny shares’ markets. They built a substantial client base of two decades but finally fell into trouble in 2013.

The FCA varied the permissions of City Equities in August 2013 meaning the firm was only able to transact execution only trades.

On the 11 October 2013 City Equities was placed into special administration with UHY Hacker Young taking over from there. UHY wrote out to all clients to confirm that the FCA had requested to wind up the business of the firm.

City Equities was declared in ‘default’ by the Financial Services Compensation Scheme (FSCS) on the 11th October 2013.

Former clients of City Equities can now make claims for compensation up to £50,000 per person.

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The Parlimentary Review

The Parliamentary Review is a series of fiercely independent publications. It reviews the latest events in parliament from a non-partisan perspective, but it is wholly independent of government. Those companies which feature within the publication are not in any way endorsed by the Government, any government agency or regulator. For more information please visit the Parliamentary Review website

Hallbrook feature in the 2017 edition of The Parlimentary Review which is available to view here.