FSCS continuing to review information relating to LCF advice claims

The Financial Services Compensation Scheme (FSCS) is continuing to review all the information it has gathered to help determine what misleading advice was given by London Capital and Finance (LCF).

In light of the ongoing COVID-19 situation, FSCS wants to reassure LCF customers that it is doing everything it can to continue working to reach a point where we can assess claims as efficiently and effectively as possible.

As part of its work in determining which customers were given misleading advice by LCF, FSCS is in the process of analysing close to a million pieces of information. This includes telephone call recordings, emails and records within LCF’s customer database. Over the last two months, FSCS has been gathering this information from various sources, and it has been developing a process and the capability to analyse all this information as quickly and effectively as possible.

Caroline Rainbird, FSCS’s CEO said, “We’re continuing to work hard to review the vast amount of information we have gathered. It is vital that we do this to help us understand which LCF customers were given advice so that we can reach decisions on claims.

“We realise that times of uncertainty can be hugely unsettling. We want to reassure all our customers that we are doing all we can, particularly in light of the ongoing COVID-19 situation, to continue our business as usual to get our customers back on track.”

FSCS will provide a further update on its progress as soon as more information is available and will aim to confirm when it will start issuing compensation.

LCF customers do not need to take any action. Anyone with questions about their claim or the review process can visit the relevant LCF page on FSCS’s website, which is being updated on a regular basis with the latest information.


Media enquiries
Suzette Browne
T: 020 7375 8633
M: 07500 842747

Anthony Ozimic
T: 020 7375 8638
M: 07939 177683

E: publicrelations@fscs.org.uk

Notes for editors
Read more about the remit of FSCS on our Notes for editors page.