1st November 2012
Eligible customers of Rockingham Independent Limited (Rockingham) may be entitled to compensation after the FSCS declared the firm in default.
The default declaration paves the way for FSCS to start issuing decisions on claims against Rockingham. However, FSCS is not yet able to process claims relating to advice given by Rockingham to its clients to invest in bonds issued by the Luxembourg-based entity, ARM Asset Backed Securities SA (ARM). FSCS is still investigating whether it has a role to play in compensating customers of Rockingham who may have lost money as a result of their dealings with the firm in relation to the ARM bonds. Although we are not able to say at this time how long our investigations will take, we will provide further updates on significant developments as they occur.
If any customer of Rockingham believes they may have lost money as a result of negligent advice relating to products other than ARM-backed funds, they can contact FSCS to request an application form. FSCS will set out the claim process in relation to ARM-backed funds once it is able to confirm whether it can deal with these claims.