Hartmann Capital has confirmed it has applied for a winding up petition following a regulatory notice from the FCA. The London-based investment firm was instructed by the FCA to not deal with or release any client money in the document dated 24 December. The firm confirmed to the FCA on 19 December that it had shortfalls of £1.5m in client money and £1.2m in regulatory capital. The company has released a statement on its website, which says: "Further to our announcement on Friday we are writing to inform you that on 24 December the directors applied to the court for a petition for the winding up of the company. We will continue to keep clients informed of developments." {desktop}{/desktop}{mobile}{/mobile} The FCA said in its regulatory notice: "In the FCA's view there is no reasonable prospect of the firm being able to make good the client money shortfall and in addition there is a real risk that Hartmann may, whether or not in good faith, permit client money to be released from its client bank accounts or client transaction accounts - so resulting in a greater client money shortfall." The FCA said it was in the interest of consumers for Hartmann to "cease conducting regulated activities".
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