The Financial Services Compensation Scheme is close to making its first payments to those affected by the collapse of MF Global.

MF Global was said to have broken rules over segregating and safeguarding clients’ money and an estimated £760m in customer cash is missing from accounts.

The FSCS said it had sent claim forms to customers, private individuals with joint accounts and corporate and trust account holders. This is in addition to 4,000 forms sent to private customers with individual accounts earlier this year.

Up to £50,000 can be paid by the FSCS to each claimant in compensation. However, the FSCS cannot process claims until claimants have agreed their compensation with special administrators KPMG.

Once the sums have been agreed, the FSCS can make payments to eligible claimants. If the sums are subject to further review, FSCS will adopt the lower figure, the same process as taken by KPMG.

The FSCS will take into account whether the claimant has already received any dividend payments from KPMG who announced it would be making these payments from 10 February.

Any customer who has not yet received a claim form by 15 March is advised to contact the FSCS.

American firm MF Global went into special administration in November 2011 after revealing a £4bn exposure to Eurozone sovereign debt. It had 2,000 staff worldwide including 600 in London.