The FCA has secured a bankruptcy order against Arthur Temlett, who traded as Abacus Insurance Consultants (FRN 118204) before being restricted by the regulator in January 2025 over fears he may have kept clients’ insurance premiums for himself.
The Dumfries-based adviser was later investigated by the FSCS and Police Scotland over the issue.
Mr Temlett is now awaiting trial on embezzlement charges brought following the investigation by Police Scotland.
The FCA said it took action in 2025, “because of concerns that he may have sold home and motor insurance without passing premium payments on to the insurance provider.”
It said it asked the court to make Mr Temlett bankrupt. The process is known as sequestration in Scotland. The Sheriff granted the regulator’s application on 27 August.
Emma Porter of Aver Chartered Accountants was appointed as trustee. She will now assess Mr Temlett’s financial affairs and seek to distribute any recovered funds to creditors.
Customers of Abacus can contact the trustee, at Aver on 0330 555 6155, or email:
The FCA said anyone who took out investments with Abacus should make a report to Police Scotland in the first instance by dialling 101 using the crime reference number: CR/0470100/24.
It said customers should also contact the trustee, using the contact details above. The trustee will explain what to do if you are affected.
Arthur Temlett was a sole trader firm first authorised on 29 April 1988. It has been operating in the Dumfries and Galloway area of Scotland since.