FSCS preparing to assess claims in relation to Arck LLP
11th September 2015
The Financial Services Compensation Scheme (FSCS) is now ready to assess claims in relation to Arck LLP investment schemes.
FSCS has established that failed financial advisers are liable for losses resulting from bad advice to invest in Arck LLP related investment schemes. Examples of the schemes include Estrela Santiago, Paradise Beach and Joyston among others.
We are also satisfied that HD Administrators LLP is liable for losses in relation to Arck LLP investment schemes held in the HD self-invested personal pension (SIPP) due to its responsibility as the SIPP operator. HD Administrators LLP has been placed in liquidation.
If you have made a claim to FSCS, we will start investigating it and will compensate you if your claim is valid. This is likely to take around six months. This will include customers with claims against failed financial advisers who have previously been told there was not enough evidence to prove the adviser was liable for losses.
If you haven’t made a claim to FSCS, please contact our Customer Services Team on Freephone 0800 678 1100 or 020 7741 4100 to request an application form. Customers could potentially have two separate claims:
- A claim against a failed financial adviser for bad advice to invest in Arck LLP related investment schemes. You would need to demonstrate why you believe you received bad advice.
- A claim against HD Administrators LLP in relation to its role as operator of the HD SIPP. This will include customers with Arck LLP investments held in the HD SIPP who believe HD Administrators LLP is liable for the losses.