The Financial Services Authority (FSA) has confirmed that Fyshe Horton Finney Stockbrokers (FHF) has entered the Special Administration Regime (SAR), as it has been unable to pay its debts.

Paul Boyle and David Clements at Harrisons Business Recovery & Insolvency (London) Ltd have been appointed joint special administrators.

FHF is a small investment business offering advisory and execution-only business. The head office is in Birmingham and it has 15 UK offices and 3,000 clients.

In the year-end 30 June 2011, the company reported revenues of £3m and a pre-tax loss of £566,000.

FHF placed itself into special administration, primarily on the grounds that it is, or is likely to become, unable to pay its debts.

This is the fourth time the SAR has been initiated by the FSA since the regime came into effect in February 2011.