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Berkeley Berry Birch
Berkeley Berry Birch plc (BBB) is a company, formerly listed on the London Stock Exchange, which collapsed in 2006 and which is now in Administration. Reverse takeover The firm was originally called ''Berry Birch & Noble'', an old insurance broking firm that had got into trading difficulties, but changed name to ''Berkeley Berry Birch plc'' following a reverse takeover in 2002 by Clifford Lockyer's ''Berkeley Group'', a privately held firm of independent financial advisers (IFAs) in Coventry. Lockyer wished to float his firm on the stock market and the reverse takeover of the ailing Berry Birch & Noble enabled him to do so more easily and cheaply than through a traditional flotation. Subsidiaries The firm had a number of subsidiaries, including: *Berkeley Independent Advisers Ltd. *Berkeley Berry Birch Group Support Services Limited *Berry Birch & Noble Financial Planning Limited *Berry Birch & Noble Financial Planning (Weston) Limited *Berry Birch & Noble Insurance Brokers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London. Since 2007, it has been part of the London Stock Exchange Group (LSEG, that it also lists ()). The LSE was the most-valued stock exchange in Europe from 2003 when records began till Autumn 2022, when the Paris exchange was briefly larger, until the LSE retook its position as Europe’s largest stock exchange 10 days later. History Coffee House The Royal Exchange had been founded by English financier Thomas Gresham and Sir Richard Clough on the model of the Antwerp Bourse. It was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their rude manners. They had to operate from other establishments in the vicinity, notably Jona ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Administration (law)
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – in the United Kingdom colloquially called being "under administration" – is an alternative to liquidation or may be a precursor to it. Administration is commenced by an administration order. A company in administrative receivership is operated by an administrator (as interim chief executive with custodial responsibility for the company's assets and obligations) on behalf of its creditors. The administrator may recapitalize the business, sell the business to new owners, or demerge it into elements that can be sold and close the remainder. Most countries distinguish between voluntary (board-decided) and involuntary (court-decided) receivership. In voluntary administrative receivership, the administ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Takeover
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public company is bought by the private company through an asset swap and share issue. The transaction typically requires reorganization of capitalization of the acquiring company. Process In a reverse takeover, shareholders of the private company purchase control of the public shell company/ SPAC and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. The transaction can be accomplished within weeks. The transaction involves the private and shell company exchanging information on each other, neg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clifford Lockyer
Clifford Philip Lockyer (born September 1949) is a British businessman who is the former Chief Executive of the now defunct Berkeley Berry Birch plc (BBB) financial services group which collapsed in 2006 after a shortall in its capital adequacy of £11 million, After two years of investigation this was shown to be £20,000. Early career Lockyer had worked in the financial services industry since the 1970s. In 1984 he qualified as a "Top of the Table" member of the insurance sales organisation the Million Dollar Round Table. The Berkeley group Lockyer first founded a financial advisory firm under the Berkeley name in 1982. This subsequently grew into the Berkley Berry Birch Group following a reverse takeover of the ailing Berry Birch & Noble group, which was quoted on the London Stock Exchange. Following trading problems and an investigation by the Financial Services Authority The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial reg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Financial Adviser
Independent financial advisers (IFAs) are professionals who offer independent advice on financial matters to their clients and recommend suitable financial products from the ''whole of the market''. The term was developed to reflect a United Kingdom (UK) regulatory position and has a specific UK meaning, although it has been adopted in other parts of the world, such as Hong Kong. The term "independent financial adviser" was coined to describe the advisers working independently for their clients rather than representing an insurance company, bank or bancassurer. At the time (1988) the UK government was introducing the polarisation regime which forced advisers to either be tied to a single insurer or product provider or to be an independent practitioner. The term is commonly used in the United Kingdom where IFAs are regulated by the Financial Conduct Authority (FCA) and must meet strict qualification and competence requirements. Typically an independent financial adviser will con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coventry
Coventry ( or ) is a City status in the United Kingdom, city in the West Midlands (county), West Midlands, England. It is on the River Sherbourne. Coventry has been a large settlement for centuries, although it was not founded and given its city status until the Middle Ages. The city is governed by Coventry City Council. Historic counties of England, Formerly part of Warwickshire until 1451, Coventry had a population of 345,328 at the 2021 census, making it the tenth largest city in England and the 12th largest in the United Kingdom. It is the second largest city in the West Midlands (region), West Midlands region, after Birmingham, from which it is separated by an area of Green belt (United Kingdom), green belt known as the Meriden Gap, and the third largest in the wider Midlands after Birmingham and Leicester. The city is part of a larger conurbation known as the Coventry and Bedworth Urban Area, which in 2021 had a population of 389,603. Coventry is east-south-east of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Authority
The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985. Its board was appointed by the HM Treasury, Treasury, although it operated independently of government. It was structured as a company limited by guarantee and was funded entirely by fees charged to the financial services industry. Due to perceived regulatory failure of the banks during the financial crisis of 2007–2008, the Cameron–Clegg coalition, UK government decided to restructure financial regulation and abolish the FSA. On 19 December 2012, the ''Financial Services Act 2012'' received royal assent, abolishing the FSA with effect from 1 April 2013. Its responsibilities were then split between two new agencies: the Financial Conduct Authority and the Prudential Regulation Authority (United Kingdom), Prudent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clive Holmes
Clive Jefferson Holmes (born August 1939) was the founder of the Life Insurance Association and the co-founder of the ''Institute of Financial Planning'' Career Holmes entered the financial services business in 1964 at a west London firm of insurance brokers. In 1966 he joined Abbey Life where he spent twenty years as a salesman and manager. He has cited seeing Ben Feldman speak at the 1971 Million Dollar Round Table conference as a key event in his life. In 1972 he founded the Life Insurance Association and in 1987 he was the co-founder of the ''Institute of Financial Planning''. In 2001 Holmes was appointed a non-executive director of Clifford Lockyer's now defunct Berkeley Berry Birch (BBB) but resigned shortly thereafter citing problems to do with his residency in the Republic of Ireland. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Formerly Listed On The London Stock Exchange
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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