Logic Investments enters special administration following FCA intervention

Logic Investments, an FCA-authorised investment firm providing execution-only dealing and custody services, has been placed into special administration following an order of the High Court, after regulators raised concerns over its financial position.

The court appointed Alexander Watkins and Edward Boyle of Interpath Advisory as joint special administrators. Their appointment follows restrictions imposed by the Financial Conduct Authority in December, which prohibited Logic Investments from accepting new clients, receiving or transferring client money or custody assets, or moving existing client funds without regulatory consent.

According to regulatory filings, the FCA’s intervention was prompted by concerns regarding the firm’s solvency and its ability to meet regulatory requirements. Following the restrictions, Logic Investments’ directors confirmed that the firm was insolvent and applied to the court for entry into the special administration regime.

The FCA said it is working closely with the joint special administrators to achieve the best possible outcome for clients.