Horizon Stockbroking Ltd

Under investigation 02 August 2019

FRN: 604515

You might be eligible for compensation

Horizon Stockbroking Ltd was a wealth management company that offered discretionary fund management services.

FSCS understands that customers have alleged that the firm did not properly assess their interests or attitude to risk before making investments on their behalf.

See our investment compensation limits and their conditions on our Investments page.

  • 08 Nov, 2019

    We have now passed claims against Horizon Stockbroking Ltd to our claims processing team for assessment. Each claim will be considered individually to see if compensation is due.

    As we outlined in our previous update, we’re aware that FCA-authorised advisers may have recommended that customers invest with Horizon Stockbroking Ltd. They may also have recommended transferring existing pensions or investments through a self-invested personal pension (SIPP). 

    If this applies to you and the adviser is still trading, you need to complain to that adviser before making a claim to FSCS against Horizon Stockbroking Ltd.  If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS).

    If, however, the advice came from an FCA-authorised adviser that’s now not trading, you should firstly submit a claim to FSCS against the financial adviser.

    If you think you’ve got a claim, click the ‘Check if you can claim’ button above to start the process.

  • 25 Oct, 2019

    In November, claims against Horizon Stockbroking Ltd will be passed to our claims processing team for assessment. This is because we’ve concluded that Horizon Stockbroking Ltd may owe a civil liability to its customers. Or, in other words, that there’s the potential the firm could be sued in court.

    We’re currently finalising our approach to how we’ll deal with these claims. Each claim will need to be considered individually to see if compensation is due.

    To consider claims against a failed firm, we’ve got to be sure that customers have first tried every approach to claim against any connected firm that's still trading, and have been unsuccessful.

    We’re aware that FCA authorised advisers may have recommended customers invest with Horizon Stockbroking Ltd. Or they may have recommended transferring existing pensions or investments through a self-invested personal pension (SIPP).  

    If this applies to you and the adviser is still trading, you need to complain to that adviser.  If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS). 

    If, however, the advice came from an FCA authorised adviser that’s now not trading, you should firstly submit a claim to FSCS against the financial adviser.

    FSCS considers different factors when calculating losses on pension advice (a claim against financial advisers) compared to discretionary fund manager investments (a claim against discretionary fund managers, in this case Horizon Stockbroking Ltd).

    This means you may be eligible to receive more compensation for any losses by claiming against your financial adviser than if you just made a claim against your discretionary fund manager.

    If you think you’ve got a claim, click the 'Check you can claim' button to start the process.

     

  • 30 Jul, 2019

    FSCS is accepting claims against Horizon Stockbroking Limited. However, claims have not yet been passed to our claims teams for assessment. Firstly we need to establish whether there are protected claims against this firm. For this to happen we need to know that the discretionary fund manager owes a civil liability to customers that would enable them to be sued in court.

    FSCS has been working with the regulator, FCA, and other parties in order to obtain firm records and other documentation which help us to reach a view on whether there are protected claims.

FSCS

If you've any questions, contact us on the number below, or fill in a form on our Contact us page.