Basset & Gold Finance Ltd

Failed 01 April 2020

FRN: 788684

You might be eligible for compensation

FSCS is aware that B&G Finance Ltd entered administration on 1 April. FSCS is ready to start accepting claims against the firm.

From 2 January 2018 B&G Finance Ltd was authorised by the FCA, and from 1 March 2018, it arranged and promoted mini-bonds on behalf of Basset & Gold plc, which issued the mini-bonds. FSCS has determined that due to mis-selling of these mini-bonds, many Basset & Gold bondholders who bought their mini-bonds through B&G Finance Ltd may be able to claim compensation up to the £85,000 limit.

Although Basset & Gold Plc has also entered administration, FSCS is unlikely to be able to pay compensation based purely on Basset & Gold Plc’s failure to repay the bonds, as issuing bonds is not normally a regulated activity.

Customers who bought their bonds through B&G Finance Ltd can submit a claim directly to FSCS.

For FSCS to be able to pay compensation, the customer must have been mis-sold their bonds, for example, because they relied on a misleading statement about how Basset & Gold Plc was investing their money. FSCS will also check which firm was responsible for the sale of the bonds.

FSCS is investigating possible mis-selling of the mini-bonds by other related firms prior to 1 March 2018.

We will provide further updates on this page as information becomes available.

FSCS

Contact us by phone on the number below, or via the contact form on the Contact us page.