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Stockbroker Beaufort’s Collapse Leaves U.K. Small Caps Reeling

  • Companies seek new brokers to comply with AIM exchange rules
  • Beaufort has 664 million pounds in client assets, 100 staff

The collapse of Beaufort Securities Ltd. on Friday has left dozens of companies listed on London’s small cap exchange scrambling to find new brokers.

Beaufort, founded in 1992 and based near the “Gherkin” building in the city’s financial district, named PwC administrators. It has 100 staff and oversees 664 million pounds ($744 million) in client assets, PwC said in a statement.