Millburn Insurance Company Limited
Reference number: 202177
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Authorised, but in an insolvency process
This firm is under the control of insolvency practitioners and may have stopped taking on new business. If you are or were a customer, deal with the appointed office holders rather than the firm.
What the FCA says
ATTENTION - Firm in an insolvency process
This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. If you are/were a customer check how this affects you with the firm or the appointed insolvency office holder(s).
Identity
Check their details
Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.
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No website on the FCA register
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Verified phone number
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Verified address
3rd Floor, 37-39 Lime Street, London, EC3M 7AY, United Kingdom
Company details
From the company's Companies House record.
Concerns on the company record
- Companies House records this company in liquidation, but it is still authorised on the FCA register.
- Accounts are overdue at Companies House.
- Confirmation statement is overdue at Companies House.
- This company has insolvency history on record.
- Company number
- 00416596
- Company status
- Liquidation
- Company type
- Private limited company
- Incorporated
- 6 August 1946 (80 years old)
- Registered office
- Level 33 One Canada Square, London, E14 5AB
- Nature of business
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- Non-life insurance (SIC 65120)
Current directors and secretaries
| Name | Role | Born | Appointed |
|---|---|---|---|
| Peter Thomas Dawson | Director | Jan 1954 | 28 Jan 2005 |
| Gary Dixon | Director | Sep 1964 | 15 Mar 2005 |
| Colin J Mc Intosh | Director | Aug 1944 | 1 Apr 2005 |
Activities and protection
What the record covers, and how you are protected
- In an insolvency processMoney the firm held is returned through the appointed office holders, which takes time and can fall short. The FSCS covers eligible claims up to its limits, and the Ombudsman can still look at a complaint.
Show FCA detail (6 permissions)
- Accepting Deposits
- Advising on investments (except on Pension Transfers and Pension Opt Outs)
- Advising on P2P agreements
- Arranging (bringing about) deals in investments
- Carrying out contracts of insurance
- Dealing in investments as principal
Limits on the record
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Asset restriction
Millburn, whether acting in its own capacity or through its directors, officers, employees, agents or any of them howsoever, 1. must not, without the prior written consent of the PRA: a) sell, transfer or dispose of and/or enter into any legally binding commitments to sell, transfer, charge or dispose of or otherwise relinquish control of the Firm's assets other than in the ordinary course of the Firm's regulated business (including but not limited to the sale, transfer or disposal to any firm or individual associated with the Global Ridgeway Holdings and/or Kinnell Holdings Limited groups and/or any other company which is under the direct or indirect control of Shay Reches; b) make changes to the Firm's current capital structure or remuneration; c) pay any dividends; d) allow any premiums payable to the Firm to be held on account by any other firm or individual. 2. must take all reasonable steps to: a) recover any monies owed to the Firm by any other firm or individual in respect of whom the Firm is a creditor and must not lend any money to any firm or individual save in the usual course of carrying out its regulated activities or insofar as is incidental or necessary thereto. b) recover any premiums held for or on behalf of the Firm. 3. must update the PRA, on at least a weekly basis, on the Firm's implementation of points 2(a) and 2(b).
Track record
Action taken against them
2 fines in 2016, £3.97m in total. This is part of the official register record and is worth reviewing before going ahead.
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Fined £2.84m on 2 February 2016
On 1 February 2016, the PRA issued a Final Notice to Millburn Insurance Company Limited (in administration), which imposed on Millburn, pursuant to section 206 of the Financial Services and Markets Act 2000, a financial penalty of £2,836,066 for failing to conduct its business with due skill, care and diligence, and for failing to take reasonable care to organise and control its affairs, during the period from 26 December 2010 to18 September 2013, in breach of Principles 2 and 3 of the FSA’s (and after 1 April 2013, the PRA’s) Principles for Businesses. A copy of the Final Notice can be found on the Bank of England website.
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Fined £1.14m on 1 February 2016
On 1 February 2016, the FCA issued a Final Notice to Millburn Insurance Company Limited (in administration), which imposed on Millburn, a financial penalty of £1,137,500 for its failure to deal with the FCA in an open and cooperative way and to disclose to the FCA appropriately anything relating to Millburn of which the FCA would reasonably expect notice during the period from 3 January 2013 to 9 August 2013, in breach of Principle 11 of the FCA’s Principles for Businesses. A copy of the Final Notice can be found on the FCA website”
Previously registered as
The FCA register holds 2 earlier registered names for this firm. A registered name changes when a firm rebrands, and a partnership's changes whenever its partners do.
- Heydale Key Registration Company Limited
- Millburn Insurance Company Limited (In Administration)
Names it no longer trades under
This firm has retired one trading name. If you were contacted under one of these, the name did belong to this firm, but check the current details above before going ahead.
Show the retired name
- Heydale Key Registration
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