Q&As about Category 1 Claims

I have an investment in a Category One fund but have not received an FSCS application form; what should I do?

I am an investor in a Category One fund. Am I entitled to compensation?

I did not hold any part of my investment in a Category One fund through an ISA. In what circumstances may I be entitled to compensation from the FSCS?

If my Category One claim is found eligible for compensation, how will my compensation be calculated?

Will investors with Category One investments that were expecting income payments from those investments receive them in compensation?

What standard will you use in assessing whether Keydata breached a contractual or other legal obligation and whether such a breach gave rise to a valid claim for damages?

What do you mean by financial loss?

Will investors with Category One investments in an ISA wrapper be able to keep their ISA status?

Why might my FSCS compensation for my Category One investment be less than my original ISA subscription which HMRC is allowing me to re-invest into a new ISA?

I purchased 'secondary units' in a Keydata fund, after the standard start date for the investment. Will the FSCS accept my claim?

I have more than one Keydata investment; should I list all of these on the application form I have been sent in respect of my Category One claim?

What were the responsibilities of Keydata in relation to the Category One funds?

Jargon Buster

  • Eligible

    qualifying for compensation under Scheme rules.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).
  • Nominee

    a company or individual who holds your funds or investments on your behalf.