• 40 firms declared in default by FSCS this year

    So far this financial year the Financial Services Compensation Scheme has declared 40 firms in default, opening the door to ex-clients to submit claims for millions of pounds of compensation.

  • 3 in 5 FSCS probes result in no claim on levy

    Three in five investigations by the Financial Services Compensation Scheme result in no declaration of default by the body as firms can meet the costs of claims themselves, interim FSCS CEO Martyn Beauchamp has told Financial Planning Today editor Kevin O’Donnell in an exclusive interview.

  • Exclusive: Q&A with FSCS CEO Martyn Beauchamp

    Financial Planning Today editor Kevin O’Donnell recently interviewed Financial Services Compensation Scheme interim CEO Martyn Beauchamp at his London HQ about how the organisation is dealing with new challenges and a changing regulatory environment. The full article appears in the latest issue of Financial Planning Today magazine. See below for a link to view the issue.

  • London credit union default to spark £15.4m claims

    The 18,000-member London Community Credit Union (LCCU), one of London's largest credit unions, has gone into administration and been put into default by the Financial Services Compensation Scheme (FSCS).

  • Cheshire-based adviser firm in default

    Cheshire-based adviser firm Holborn Assets Ltd (FRN 648817) has been declared in default by the FSCS, opening the door to ex-clients to submit claims for compensation.

  • FSCS set for major levy increase in 2025

    The Financial Services Compensation Scheme (FSCS) has managed to keep management expenses for the coming year under control but still faces imposing a £129m levy increase in 2025/26.

  • Glasgow-based adviser firm in default

    A Glasgow-based adviser firm has been declared in default by the FSCS, opening the door to ex-clients to make claims for compensation.

  • 13 firms declared in default in 2 months

    The FSCS has today published details of the 13 regulated firms declared in default in the last two months and revealed details of the top 5 firms - in terms of compensation paid out - so far this year. 

  • Surrey-based IFA declared in default

    A Surrey-based financial adviser firm which was dissolved in 2015 has this week been declared in default by the FSCS.

  • Wealthtek clients' compensation to be higher

    Clients of failed Newcastle-based wealth manager WealthTek LLP will make a smaller contribution to the costs of the administration than previously estimated, after a fresh judgment in the case last week.

  • £1bn SIPP provider Intelligent Money defaults

    Failed SIPP operator Intelligent Money has been declared in default today by the Financial Services Compensation Scheme, opening the door to ex-clients with valid claims to receive compensation.

  • FSCS declares Leeds-based adviser firm in default

    The Financial Services Compensation Scheme has declared Leeds-based pension transfer adviser Gainsborough Financial Services (FRN: 145971) in default.

  • Staffs adviser defaults after pension transfer claims

    Staffordshire-based advice firm Norrix Financial Services Ltd (FRN: 224577) has been declared as in default by the Financial Services Compensation Scheme (FSCS).

  • FSCS pays £26.6m to WealthTek administrators

     

    The Financial Services Compensation Scheme has made a first payment of £26.6m to the Joint Special Administrators of failed Newcastle-based wealth manager WealthTek LLP.

  • Tenet Connect appointed rep firm declared in default

    A Shropshire-based pension adviser - an appointed rep of failed firm Tenet Connect Limited - has itself been declared as failed by the Financial Services Compensation Scheme, opening the door to compensation claims.

  • Midlands pension adviser IWMP fails

    A Midlands-based pension adviser firm has failed and been declared in default by the Financial Services Compensation Scheme, the industry compensation safety-net.

  • Nearly 220 claims against LEBC as firm defaults

    The Financial Services Compensation Scheme today declared former national IFA, pensions and employee benefits firm LEBC Group Ltd (FRN: 760755) in default after receiving 218 claims against the firm.

  • FSCS declares 3 firms as failed or under investigation

    The Financial Services Compensation Scheme, the industry compensation safety net, has declared three firms as failed or under investigation in the last few days, opening the door to potential claims from clients.

  • FSCS declares Cornwall firm in default

     

    The Financial Services Compensation Scheme has declared in default Cornwall-based investment firm European American Capital Services Limited which traded as EA Capital (FRN: 401897).

  • FSCS declares 6 adviser firms in default

    The Financial Services Compensation Scheme (FSCS) - the industry’s consumer compensation safety-net - has declared six firms in default over the past two months.