Announcement

Closure of Park Row

Park Row has announced the closure of its Adviser Division and wind up of its operational business, following a strategic review. This means our advisers were de-authorised from November 13th 2009 and have been unable to give advice on behalf of Park Row from this date. The closure of Park Row will see the solvent liquidation of the business and we are working with our regulator, the Financial Services Authority (FSA), to ensure the liquidation does not disadvantage or cause significant disruption to our clients. Park Row is committed to ensuring all advisers transfer to other Independent Financial Advice businesses so relationships with clients will continue. If you have an ongoing need for financial advice we recommend you contact your existing adviser. For further information on the closure of Park Row please call 0113 261 5862.

FSA Censure of Park Row

Park Row customers who think they may be affected by the recent FSA censure of Park Row do not need to do anything at this time. Park Row has commissioned KPMG to undertake an independent review of investment advice given to customers. The review will cover business written by Park Row advisers during the period June 2006 through to November 2009, with exception of pension switching which covers the period 6th April 2006 to November 2009. KPMG are highly respected firm who will identify if any customers are at risk of having received inappropriate advice. Customer files will be independently reviewed to assess whether they demonstrate suitable advice. If there is a risk that the sale was unsuitable when the file is reviewed or there is not enough information to determine suitability, then KPMG will write to the customer with detailed information about those concerns inviting customer feedback. Following contact those customers with concerns will receive regular updates. Customers with queries regarding the review should call our dedicated free phone number 0800 9709752.