On Air The Morning Show Chris Williams | 9:00am - Noon

FSC appoints investment scheme controllers

The Financial Supervision Commission has appointed two people to oversee four collective investment schemes.

 

Maurice Singer and David Peter Craine have been appointed to oversee Guardian Alpha, Guardian Analysis, Guardian Beta and Guardian Delta under the Collective Investment Schemes Act 2008.

 

They’ll assume control after the FSC said the four schemes are, or are likely to become, unable to meet their obligations as they fall due.

 

The FSC says it’s stepped in to protect investors.

 

The schemes’ administrator Ardent Fund Solutions of King Orry Road in Glen Vine, has ceased its administration services and surrendered its licence.

More from Isle of Man Business