FCA-Regulated Investment Firm ADSL Enters Liquidation

The Financial Conduct Authority (FCA) announced that Alexander David Securities Limited (ADSL) entered creditors' voluntary liquidation and Shane Cooks, Emma Sayers and Malcolm Cohen of BDO LLP were appointed as joint liquidators.

ADSL is an FCA regulated firm which was authorised to conduct investment related activities. ADSL provided corporate finance advisory services which included initial public offerings, secondary fund raisings, mergers and acquisitions, and debt offerings. It also undertook some other unregulated activities.  

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Authorised firms like ADSL may provide regulated activities through appointed representatives. An appointed representative (AR) is a firm or person who carries on a regulated activity on behalf, and under the responsibility of, a firm authorised by the FCA (the principal). In appointing an AR, the principal assumes responsibility for the regulated activities the AR carries out. ADSL previously had four appointed representatives (ARs) which are listed below. These are no longer ARs of ADSL.

• ​Beer & Young Limited (06/11/2015 to 15/03/2017)

• ​OS Wealth Management Limited (25/05/2018 to 09/08/2018)

• ​St. Pauls Marketing Limited (12/10/2016 to 15/08/2017)

• ​Templeton Securities Limited (15/07/2013 to 19/08/2015)