The Financial Services Compensation Scheme has declared two bond firms as failed today.

The move opens the door to clients to claim compensation from the FSCS.

The firms, London-based Consero Capital LLP and Dundee-based Chryson Limited, had previously traded using multiple trading names. The claims relate mainly to investment bonds.

Dundee based Chryson Limited (FRN 491208) had previously used as trading names: IQ Money, Chryson Wealth Management and Sharewatch UK. FCA records show the firm ceased to be authorised for regulated activities from 26 August 2022.

The FSCS said today that there were 14 claims against Chryson related to investment bonds, secured bonds and CFD. None of these relate to BSPS cases.

Consero Capital LLP (FRN: 570728) was based at an address in Cavendish Square in London’s West End. It traded under two names: Green-ifisa.com and Renewable-bonds.com.

For Consero Capital LLP the FSCS has received 16 claims so far relating to investment bonds and secured bonds. None are BSPS related. FCA records show the firm ceased to be authorised after 19 December 2019.

FCA records suggest that both firms were themselves the victim of clone attacks where the firm’s website or other details was copied by fraudsters.

Consero’s two trading name businesses began trading in April 2019, only eight months before the firm’s authorisation as a regulated firm ended.

Consero had two appointed rep firms: Amio Wealth Limited and Kernco Partners LLP.