Update for customers of Direct Sharedeal Limited

11th May 2012

Paul Finn and Michael Field of Finn Associates were appointed as joint administrators of Direct Sharedeal Limited on 12 April 2011 and were subsequently appointed joint liquidators of the company on 12 April 2012. Direct Sharedeal Limited has now been declared in default for the purposes of FSCS, and FSCS is inviting claims against the firm. FSCS expects that some customers of the firm may have claims relating to either shares or contracts for difference (CFD) investments.

Any customer of Direct Sharedeal Limited who believes they may have a protected claim against the firm should contact FSCS’s Initial Contact Team to request an FSCS claim form. FSCS will also be contacting all customers who have previously registered a claim with the firm’s joint liquidators inviting them to make a claim with FSCS.

For investment claims against Direct Sharedeal Limited FSCS can pay up to £50,000 in compensation per eligible claimant.

FSCS is still gathering the evidence it requires to support claims in relations to CFD investments, and will provide a further update on its website regarding this category of claim as soon as more information is available.