22nd October 2010
FSCS encourages Keydata investors to complete and return application forms
This update is for customers of Keydata who hold investments backed by Lifemark SA.
The FSCS is working to quantify the losses suffered by Lifemark investors and to pay compensation as quickly as possible. With this in mind, we are encouraging all investors who have been sent an FSCS application form to complete it and return it to us as soon as possible so that we can determine whether or not their claim is eligible for compensation. This will enable us to start making compensation payments as soon as we are in a position to quantify investors’ losses.
In the meantime, we are continuing to investigate urgently the potential valuation of the bonds and how that should be taken into account when quantifying investors’ losses, in an effort to move the compensation process forward as quickly as we can.
We will provide full information about the calculation and payment of compensation as soon as we are able, and in any event will provide a further update in November.