This Sub-scheme covers investment claims, for example claims relating to financial advisers and investment firms.
FSCS is triggered when a firm authorised to advise on or arrange investments goes out of business, and is considered by FSCS to be unable, or likely to be unable, to pay claims made against it. This will generally be because the firm has stopped trading and has insufficient assets to meet claims, or is insolvent.
Once we are satisfied that a firm is unable, or likely to be unable, to pay claims against it, we declare the firm in default. A declaration of default opens the way for the firm's customers to make a claim for compensation to us.
You can search our default database to see if a firm has already been declared in default by FSCS.
The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).