Customers of Beaufort may be eligible for compensation as FSCS declares firms in default

19th March 2018

Customers of two failed investment firms, Beaufort Securities Limited (BSL) and Beaufort Asset Clearing Services Limited (BACSL), may be eligible for compensation. The Financial Services Compensation Scheme (FSCS) has declared these firms in default.

FSCS is working closely with PricewaterhouseCoopers (PwC), the joint administrators of BSL and special administrators of BACSL, to get the best possible outcome for customers, and we will be dealing with claims at the earliest possible date.

FSCS will publish updates for customers as this work progresses.

If customers have any questions they may contact the administrators via their helpline 0800 063 9283 (UK) or +44 (0)20 7293 0227 (international) or by email to Client.Services@beaufortsecurities.com.  

Further information is also available on the administrators’ dedicated webpage: https://www.pwc.co.uk/beaufort.

 

Jargon Buster

  • Eligible

    qualifying for compensation under Scheme rules.
  • 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.
  • 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).