Ed Boyle, Rob Spence and Howard Smith of Interpath Ltd were appointed as Joint Administrators of Tenet Group Limited (“TGL”) and Ed Boyle and Rob Spence were appointed as Joint Administrators of Tenet Limited (“TL”), TenetConnect Ltd (“TCL”) and TenetConnect Services Ltd (“TCSL”) (collectively “the Group”) by the relevant companies’ directors on 5 June 2024 (the “Administrations”). Tenet Network Services and TenetConnect are both trading styles of TenetConnect Ltd and TenetConnect Services Ltd.

Tenet Mortgage Solutions Limited (“TMS”) has ceased to trade but has not been placed into administration. As a result of the administrations of TCL and TCSL, Tenet Financial Services Limited’s (“TFSL”) registration to act as an Appointed Representative of TCL and TCSL was terminated with immediate effect on 5 June 2024. TFSL has ceased to conduct regulated activities and has not been placed into administration. Tenet Employee Benefit Solutions, a non-regulated service within TFSL, continues to operate as normal.

Paragon Insurance Company (Guernsey) Ltd also remains under the control of its directors and continues to trade as normal.

In the recent past, the Group has been winding down its operations by completing the sale and transfer of its network of independent financial advisers and its mortgage and protection advisory network to third parties. Customers should continue to liaise with their financial advisers, the vast majority of whom continue to operate as normal.

Further information for customers and financial advisers, including an initial list of frequently asked questions (“FAQs”), is provided for your information at the Group website – https://www.tenet.co.uk/.

Customers are advised to review the FCA register (https://register.fca.org.uk/s/to check the status of their financial adviser and ensure they have appropriate permissions to provide regulated financial advice. To review the FCA register, please click on this link https://register.fca.org.uk/s/ and follow the steps below:

Step 1 – search a registered firm or individual

Scroll down to the section headed “Check information about a firm, or an individual at a firm” and select firms or individuals by clicking one of the below:

Step 2 – insert the name of the firm or individual

Type the name of the firm or individual of your financial adviser here:

Step 3 – conduct search of the FCA register

Complete the search by clicking the search function:

Further guidance can also be found for consumers on the consumer page at the following link: https://www.fca.org.uk/consumers. 
The Administrators are working with the Financial Services Compensation Scheme (FSCS) in order to provide the Customer records they require in order to be able to assess any claims which may be eligible for FSCS compensation.

Further detail is set out in the Customer FAQ here: https://www.tenet.co.uk/.