Government has, as of 30 March 2020, extended the lock down period in Mauritius to 15 April 2020. Employees are not allowed to attend their workplace except if they are part of the essential services.
Gravitas has implemented its ''work from home'' programme and it aims to ensure continuity of client services with the least disruption possible.
We understand that the present situation may cause anxiety but there is currently no impact on our ability to operate our full range of services.
We will continue to monitor the situation and will communicate any further developments with you.
Meantime, please do not hesitate to contact us on email@example.com for any assistance you may require.
We thank you for your continued support.
Kind Regards and Keep Safe
Reyker Securities PLC ("Reyker") is one of the custodians that Gravitas uses for custody services.
Further to a statement published on the website of the UK Financial Conduct Authority (FCA) on 07 October 2019, we were advised that Reyker had been placed into special administration under the UK Investment Bank Special Administration Regulations 2011.
This has led to the restriction of the movement of any client money and assets from Reyker.
Currently Mark Ford, Adam Stephens & Henry Shinners of Smith& Williamson are appointed as Joint Special Administrators (JSAs) of Reyker.
The JSAs of Reyker held a meeting of all clients and creditors on 16th December 2019, which was attended by a director of Gravitas. It was advised at the meeting that the JSAs’ strategy, with the cooperation of the FCA, was to find a buyer for the business so that the restriction on the movement of Client money and client asset can removed as soon as possible. The expectation was to conclude a bid for the Reyker business in 2020.
The JSAs have now provided an update at 14 February 2020 to the clients and creditors of Reyker confirming that an offer for the Reyker’s business and assets has been accepted (subject to contract) which should facilitate the transfer of all Client Assets to a regulated broker.
The JSAs anticipate sending notice of a Bar Date (being a date by which Clients of Reyker must submit a claim in respect of their Client Money and Custody Assets through an online client portal) before the end of February 2020. Gravitas, as a client of Reyker, will complete all the necessary formalities in that respect as soon as the notice is received from the JSAs.
You can consult the JSAs dedicated webpage updating on Reyker matters, the link of which is as follows, for further details on the above:
Gravitas has been and will remain in regular contact with the JSAs and will of course continue to keep you updated of any developments regarding the above.
Whilst Gravitas continues to provide platform services as normal to its clients, using the custody services of its other service providers, you/your client may be impacted to proceed with trading activity or withdrawals from your account on the Gravitas platform as a result of the above.
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