Hartmann Capital Limited

Limits on the record

• Hartmann to cease reg bus.,except as detailed here

  Requirement 1: This requirement is for all client money that Hartmann holds pursuant to section CASS 7 of the Handbook: With immediate effect, Hartmann must not in any way deal with or release any client money save (i) as provided in Requirement 2 or (ii) to allow the Special Administrators of Hartmann to act in accordance with their powers and duties under applicable laws and regulations, including the payment of costs properly attributable to the distribution of client money in accordance with CASS 7.7.2R and the Investment Banking Special Administration (England and Wales) Rules 2011. Requirement 2: (a) Subject to (b) with immediate effect, Hartmann must cease carrying on any business that involves the carrying on of any regulated activities (including not initiating any further such business) except that (1) it may allow the settlement of transactions in non-derivative financial instruments which (i) are settling as at the time of this requirement coming into force, and (ii) for which the firm is holding client money which it has previously received for the purposes of settlement including, for the avoidance of doubt, where the settlement of such transactions constituting purchases has failed, the purchase of securities from an alternative source; and (2) it may engage in such activities which constitute the carrying on of regulated activities within the scope of its existing FCA permissions so as to allow the Special Administrators of Hartmann to (i) return client assets, (ii) subject to (c), liquidate client assets for the purposes of the distribution of the proceeds to clients and/or for the payment of the Special Administrators' costs properly attributable to the return or transfer of client assets, (iii) liquidate other assets for the purposes of the distribution of the proceeds to the insolvent estate of Hartmann and/or for the payment of the Special Administrators' costs properly attributable to the return or transfer of these other assets, and (iv) safeguard and administer client assets which have not been returned, transferred or liquidated. (b) With immediate effect Hartman must use its best endeavours to terminate any derivative contracts to which it is a party (whether as principal or agent), but must not for these purposes enter into any new derivative contracts (including any contracts to offset or reduce exposures under open derivative contracts). (c) (i) Hartmann's Special Administrators are, in taking such a course of action, acting in accordance with their powers and duties under the Investment Bank Special Administration Regulations 2011 and the Investment Bank Special Administration (England and Wales) Rules 2011; and (ii) the liquidation proceeds shall not be used for or applied towards the payment of such costs of Hartmann's Special administrators unless and until such use or application has been approved by Court. Requirement 3: Hartmann must immediately secure all books and records and preserve information and systems that relate to regulated activities carried on by it, and must retain these in a form and at a location (to be notified to the Authority in writing) such that they can be provided to the Authority promptly on its request.