UHY appointed administrators of Hartley Pensions

UHY Hacker Young LLP has been appointed as administrator of Hartley Pensions. Peter Kubik and Brian Johnson will lead the administration, and are both said to be qualified insolvency practitioners and regulated by the Insolvency Practitioners Association.

The news comes as the Financial Conduct Authority (FCA) reportedly imposed a number of requirements over Hartley and, as a result, the group’s director sought professional advice and concluded that “Hartley will or is likely to become cash flow insolvent in the future”. 

UHY Hacker Young became administrators of Hartley on 29 July 2022. 

As the administrators, UHY is seeking to agree an orderly handover of the management to an alternative provider. This will take some time, but the firm hopes to give a more accurate timescale in August 2022.

It is reported that the requirements imposed on Hartley Pensions were agreed or imposed in an attempt for the firm to correct a number of operational, financial and regulatory issues within the business and to protect its clients.  

Hartley’s staff reportedly remain employed and the administrators will continue to liaise with the staff throughout this process.