shepherds' exposure to MBC has put its iOM funds in danger of liquidation despite return of $7m
The Isle of Man regulator has applied to court for Shepherds' four funds domiciled in the jurisdiction to be put into liquidation. PricewaterhouseCooper's Michael Simpson was appointed provisional liquidator on 6 May and a court hearing will take place on 13 June in a bid to make the appointment permanent. The Isle of Man Financial Services Commission (FSC) said it could not comment on the specific reasons for its application for liquidation of the Shepherds Select, Safeguard High Security, Traded Life Policy (TLP) and Traded Endowment Policies (Tep) funds. This comes after the two dir...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
