Hartmann Capital

Proposals as at 2nd February 2015

These can be downloaded by following this link

Client Update

The Joint Special Administrators advise that they have distributed 75% of clients monies to all clients who have agreed their claim to client monies as at the Primary Pooling Event ('PPE').

I also advise that clients have had their equities transferred to their new nominated broker, where they have returned the relevant documentation.

I confirm that the Special Administrators have provided the Financial Service Compensation Scheme ('FSCS') with the relevant client data to allow compensation to be paid to clients that are eligible under their Rules. The FSCS will be in contact with clients shortly.

Please be advised that as of 23 December 2014, the Hartmann offices will be closed. If you have any queries please call 020 7456 9100 or 020 7216 4600.

Proposals as at 24th February 2014

These can be downloaded by following this link

Letter to Clients

Click here to view a letter to all clients.


Announcement to Clients

At 17.35pm on 3 January 2014 a special administration order was granted by the High Court of Justice, Chancery Division, Companies Court in respect of Hartmann Capital Limited, and Andrew Andronikou and Peter Kubik were appointed Special Administrators. Pursuant to such order full moratoriums as provided by the relevant provisions and are in force in respect of the company and its assets and certain specified steps must not be taken and are unlawful without the prior permission of the special administrators or the court. Further relevant details will be posted on the website for the assistance of clients as matters develop. The client assets and client monies are held in safe ring fenced accounts, although the present evidence suggests a shortfall as regards client monies. Relevant proposals for the conduct of the special administration will be posted in due course.

The Special Administrators, UHY Hacker Young of Quadrant House, 4 Thomas More Square, London, E1W 1YW can be contacted by telephone on 0203 053 1636.

Dear Client,

Further to our announcement on Friday we are writing to inform you that on 24 December the directors applied to the court for a petition for the winding up of the company.

We will continue to keep clients informed of developments.

Yours faithfully
For and on behalf of
Hartmann Capital Ltd


Dear Client,
As you may be aware, we have been investigating the affairs of the Company following the discovery of various matters.

We appreciate that you will be frustrated and concerned by the lack of information available to you from the Company and the implications for you.

The Company is currently unable to meet its financial resource requirement as established by the Financial Conduct Authority ("FCA") and has insufficient operational liquidity.

The Company has also identified what appears to be a shortfall on client monies. No such shortfall has been identified on client assets.

The Company has been in close contact with the FCA and in light of the Company's position the FCA has this morning served a regulatory notice on the Company which:

Open derivative positions

The implications of the regulatory notice are that the Company is not in a position to use any client money it holds to meet margin obligations on open derivative positions so any client wishing to keep a position open will be required to provide us with sufficient cash margin to meet their obligations. The Company is seeking urgent clarification as to whether the Company can continue to use collateral to meet margin obligations for those clients using none cash margin.

Stock settlements

The Company is also seeking clarification in relation to the position on stock bargains in the course of settlement (including those arising from Friday's expiry) in cases in which the client has not yet provided the Company with money to pay for any stock due to be delivered to them on settlement or to purchase any stock to be delivered by them on settlement.

Open FX contracts

The Company is not going to be able to perform its obligations on any open foreign exchange contracts to which it is a party on maturity.


As a result of the regulatory notice the Company is not currently in a position to give clients advice, including advice in relation to their investments or any market positions.

The Company is working as quickly as it can to clarify the position and will provide clients with further information as soon as it is are able to do so. This is being done in full consultation with the FCA.

Yours faithfully
For and on behalf of
Hartmann Capital Ltd


Hartmann Capital is a specialist Investment Company based in the City of London.

Hartmann offers a full range of Investment services with a specific focus on Derivatives, Fixed Income, Investment Management, Fund Management, and Foreign Exchange services. Hartmann's core broking business is a leader in the areas of Futures & Options, Equities and CFDs. In addition to general investment services Hartmann offers specialist services to its clients via specialist funds.

In a rapidly changing world of investment services, and with the increasing impact of regulation brought about by the continuing financial crisis, specialist investment companies are, once again, becoming central by providing top quality services to clients. Taking advantage of this changing, and challenging, environment over the coming years Hartmann expects to establish itself as a major name in investment management in London.