17th September 2012
Customers of Pritchard Stockbrokers Limited (Pritchard) can expect to receive application forms from FSCS to make a claim for compensation in the coming weeks.
When customers receive an application form they should complete it as fully as possible, and return it using the envelope provided, along with copies of any documentation they consider relevant to their claim. FSCS will then process completed application forms as we receive them. We will only be able to process claims where clients have already agreed a balance with Mazars LLP, the Special Administrators of Pritchard, and this balance has been notified to us by Mazars. Mazars have previously contacted clients to agree balances for each individual account, and FSCS will also register claims on an individual account basis. This means clients who held more than one account will receive more than one application form, and each form will need to be completed.
There may be delays in dealing with some claims where additional information is required from Mazars. In instances where aggregate balances are less than £50, FSCS will ask that clients request an application form to complete. You can do this by phoning or emailing us.
When assessing claims, FSCS will only use balances that clients have already agreed with the Special Administrators. This balance, less any dividends paid, will be the amount of compensation that claimants will receive.
FSCS is aware that there are some clients who may have a claim in relation to a shortfall in their share holdings. We are currently working with the Special Administrators to determine the value of the loss incurred by each individual and the appropriate process for compensating such clients.
We will continue to keep customers of Pritchard regularly informed about our progress by providing updates on our website. For further information, please see our Questions and Answers section.