The UK Financial Services Compensation Scheme (FSCS) announced on Tuesday that a total of 12 companies had defaulted during August and September this year and were unable to repay any claims themselves. Customers of these companies are also reminded that they can file claims with the FSCS.
FSCS is a deposit protection scheme established by the UK Financial Services Authority (FCA). FSCS is an independent organization and provides services free of charge to consumers. If a company regulated by the FCA ceases operations and is unable to pay customer claims, the FSCS will step in and be responsible for compensation. The scope of FSCS compensation protection includes deposits, insurance and investments.
"Losing money can be stressful and it can be difficult to think about what to do next," said Sarah Marin, chief customer service officer at FSCS. "If you were a customer of any of these companies and suffered a financial loss as a result of the company's failure, You may be able to receive compensation from the FSCS. We have a free online claims service and our professional claims staff are on hand to guide you through the process.”
According to the FSCS announcement, the 12 defaulting companies are:
Arrow Financial Services UK Ltd trading as Arrow Asset Management (FRN 528826) 1 Gray Friars, Chester, Cheshire, CH1 2NW
Chryson Ltd trading (FRN 491208) trading as IQ Money, Chryson Wealth Management and Sharewatch UK 7 Torrance Avenue, East Kilbridge, Glasgow, G75 0RN
Consero Capital LLP trading (FRN 570728) trading as Green-ifisa.com and Renewable-bonds.com Address: 33 Cavendish Square, London, W1G 0PW
Crosbie Carr Morris Ltd (FRN 799406) Address: 5 Atholl Crescent, Edinburgh, EH3 8EJ
David Craig (FRN 503340) Address: 39 Powderham Drive, South Glamorgan, Cardiff, CF11 8ND
Focus Oxford LLP trading as Focus Independent Financial Advisers and Independent Insurance Consultants (FRN 594369) Seacourt Tower, West Way, Oxford, OX2 0JL
Hastings & Rother Credit Union Ltd (FRN 213644) trading as 1066 Community Bank Address: Jackson Hall, Portland Place, Hastings, East Sussex, TN34 1QN
Leslie & Swallow LLP trading as Aston Collie (FRN 601807) 24 Downsview, Chatham, Kent, ME5 0AP
Mike Norris Financial Services Ltd (FRN 542126) Address: 19 Chats
