Update for customers of Beaufort Securities Limited and Beaufort Asset Clearing Services Limited – FSCS assessing impact on consumers

2nd March 2018

The Financial Services Compensation Scheme (FSCS) is aware of the situation regarding Beaufort Securities Limited (BSL) and Beaufort Asset Clearing Services Limited (BACSL). These firms have entered insolvency and have ceased trading. The firms are currently unable to execute any new business or act on any instructions from clients.

FSCS is working with PricewaterhouseCoopers (PwC), who have been appointed joint administrators of BSL and special administrators of BACSL, to understand what this might mean for these firms’ customers. We will work as quickly as we can to provide some certainty for customers, and will provide further updates on our website as more information becomes available.

Meanwhile, the administrators have said that they will contact all affected customers in due course. Customers may contact the administrators via their helpline 0800 063 9283 (UK) or +44 (0)20 7293 0227 (international).

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

Jargon Buster

  • Insolvency

    having insufficient assets to meet due debts or liabilities.