Update for customers of Avalon Investment Services Limited

24th February 2016

The Financial Services Compensation Scheme (FSCS) is aware of the situation with Avalon Investment Services Limited (Avalon), and is working with the firm’s special administrators to understand what the insolvency of Avalon might mean for its customers.

Avalon went into administration yesterday (23 February 2016). FSCS will provide further updates as this process continues.

FSCS protects private individuals and small businesses if an authorised firm becomes insolvent and cannot return money or investments to its customers.  For eligible investment claims, FSCS can pay up to £50,000 in compensation per person.  If claims are paid by FSCS, FSCS will then assume those client claims against the firm.

Clients of the firm should contact the special administrators on 0333 200 3405, or at aisclaims@kpmg.co.uk if they have any questions.

Jargon Buster

  • Authorised firm

    a company, unincorporated body, partnership or individual permitted to carry out a regulated activity by the FCA or the PRA. This term includes a mutual (unincorporated) organisation, for example a friendly society.
  • Eligible

    qualifying for compensation under Scheme rules.
  • Insolvency

    having insufficient assets to meet due debts or liabilities.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).