13th March 2015
The Financial Services Compensation Scheme (FSCS) is now able to start processing claims in relation to investments in three Stirling Mortimer funds. As mentioned in our January update, these funds are No.4 Cape Verde fund, No.6 Morocco fund and No.7 Cape Verde II fund.
FSCS has considered the liability of the defaulted Independent Financial Advisers (IFAs) that advised customers to invest in these funds. Based on the evidence that is available we are satisfied that, where mis-selling can be proven, the IFAs can be held liable for any losses suffered by customers in relation to the three Stirling Mortimer funds.