Wills & Co Stockbrokers Limited

1st July 2010

Customers of Wills & Co Stockbrokers Limited (Wills & Co) are a step closer to having their complaints against the firm considered by the FSCS.

The FSCS has declared Wills & Co in default, which means it is satisfied that the firm is unable, or likely to be unable, to pay claims against it. The FSCS can now start considering claims for compensation against the firm.

We are now working with the firm’s directors and the Financial Ombudsman Service (FOS) to ensure that all investment complaints that have been made against the firm are transferred to us, along with all relevant company records. Once we have received the complaint files and company records, we will send out application forms to these customers to enable them to apply for compensation.

If any customers of the firm have not yet submitted a complaint to the firm or to FOS and would like to make a claim, they should write to us with full details of why they believe they are owed money by the firm.

Customers of the firm that have already registered a complaint with the firm do not need to take any further action at this point. We will contact all registered claimants as soon as we are able to provide details of the claims process and an application form to complete. The claims procedure is designed to be as simple as possible so that applicants should not need legal or financial assistance when making a claim, and we do not charge consumers for using our service.

The FSCS have also issued a Press Release regarding Wills & Co.

More information about Wills & Co is available on the FSA’s website.

Jargon Buster

  • FOS

    Financial Ombudsman Service, for complaints or claims against firms that are still trading.
  • FSA

    Financial Services Authority, was previously the UK's regulator for the finance industry. It was replaced by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on 1 April 2013.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).