Blankstone Sington Ltd, trading as BS CFDs

Failed 06 February 2024

FRN: 143694

On 13 October 2023, the Court appointed Andrew Poxon, Alex Cadwallader and Hilary Pascoe of Leonard Curtis as Joint Special Administrators of Blankstone Sington Ltd following an application by the FCA.

Further details can be found at the Joint Special Administrators’ website.

The Joint Special Administrators have also advised that customers who wish to speak to someone should contact blankstone@leonardcurtis.co.uk or on 0161 820 4238.

You can also read details on the FCA website.

FSCS will not be opening to customer claims right now, but we will be investigating whether there are any claims that are eligible for compensation, and how any claims might best be dealt with. As part of this investigation, we will be working closely with the Joint Special Administrators and the FCA.

Further updates will be posted on this page when they become available.

Download the Determination papers (pdf 0.1MB)

Being alert to scams

Scammers may look to take advantage of the special administration of Blankstone Sington Ltd to try to defraud clients.

All clients should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from Blankstone Sington Ltd or Leonard Curtis, please end the call and contact Leonard Curtis on blankstone@leonardcurtis.co.uk or on 0161 820 4238.

Latest updates

  • 06 Feb, 2024

    On 21 December 2023 we explained that we expect to be able to pay compensation to eligible customers of Blankstone Sington. We have now taken the next step by declaring the firm in default. This is something we have to do as it confirms that FSCS believes the firm owes money to its customers and cannot meet the costs of any claims itself.

    We still remain closed to claims, so Blankstone Sington’s customers do not need to do anything at this point. There is still a considerable amount of work to do before customers can be reunited with their money and assets.

    We're continuing to work closely with the Joint Special Administrators and will provide further updates, including timescales, when that information is available.

  • 21 Dec, 2023

    We’ve been working closely with the Joint Special Administrators (JSAs) to see if there are any claims eligible for FSCS compensation. 

    We now anticipate that, for customers who are eligible under FSCS rules, we are likely to meet any losses suffered in relation to the following: 

    • the costs of transferring client money to a new broker; and
    • the costs of transferring client assets to a new broker - provided the particular assets are covered by FSCS's rules.

    Further information regarding eligibility for FSCS compensation can be found on our Eligibility page.

    Any compensation payable by FSCS is subject to the statutory cap of £85,000 per eligible customer, per firm. 

    Before FSCS can make any compensation payments in accordance with the special administration process, the Clients' and Creditors' Committee and the Court must approve the JSAs’ Distribution Plan, which sets out how customers’ assets will be returned to them. How client money will be returned to customers will be set out separately. Both customer assets and client money are likely to be transferred to a new broker at the same time. 

    We don’t yet have a timescale for how long this is likely to take. The JSAs will be providing more updates as their work progresses. We will continue to work closely with them and will provide further updates when we’ve more information.

    At the moment, Blankstone Sington Ltd customers do not need to take any action regarding FSCS compensation. We remain closed to customer claims.