Consumers could be in line for compensation after FSCS declares eight firms in default

14th June 2018

Consumers could get back money they have lost as a result of their dealings with any of the eight failed financial firms (listed below) the Financial Services Compensation Scheme (FSCS) declared in default during May 2018.

FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services firms. A declaration of default means FSCS is satisfied a firm is unable to pay claims for compensation made against it. This paves the way for customers of that firm to make a claim for compensation.

Alex Kuczynski, Chief Corporate Affairs Officer at FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance. We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.” 

Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.

If you wish to make a claim with FSCS against one of these firms, you may be able to do so using FSCS’s online claims service. Or you can contact the Scheme’s Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at enquiries@fscs.org.uk.

For the latest FSCS news and information visit www.fscs.org.uk or follow @FSCS News

Declarations by FSCS

from 1st to 31st May 2018

Greater London

Argent Personal Finance Managers Limited, 6TH FLOOR, CENTENNIUM HOUSE, 100 LOWER THAMES STREET, LONDON, EC3R 6DL

West Midlands

Lifeboat Financial Advisers Limited t/a Lifeboat Financial Advisers, LIFEBOAT HOUSE, EUSTON WAY, TOWN CENTRE, TELFORD, SHROPSHIRE, TF3 4LY

Platinum Independent Advisers Limited t/a Platinum Independent, 67 RUGELEY ROAD, BURNTWOOD, STAFFORDSHIRE, WS7 9BJ

North West

E B A, 3 LONSDALE ROAD, SOUTHPORT, MERSEYSIDE, PR8 6NL

Yorkshire and the Humber

Alliance Independent Financial Advisers Limited, OFFICE 6, UNIT 1, ROBIN MILLS, LEEDS ROAD, GREENGATES, BRADFORD, WEST YORKSHIRE, BD10 9TE

Leeds & York Financial Services Limited, HAWKSWORTH ESTATE, THORPE LANE, GUISELEY, LEEDS, WEST YORKSHIRE, LS20 8LG

East of England

Hillyard Financial Consultants (UK) Limited t/a Finance International, 53 HIGH STREET, ABBOTS LANGLEY, HERTFORDSHIRE, WD5 0AA

Wales

Grosvenor Butterworth (Financial Services) Limited, GROSVENOR HOUSE, OAK TREE COURT, MULBERRY DRIVE,CARDIFF GATE BUSINESS PARK, CARDIFF, SOUTH GLAMORGAN, CF23 8RS

Jargon Buster

  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.