Claims against Strand Capital moved to FSCS’s claims processing teams

Maria Nikolova

The compensation scheme says decisions on these claims will be sent out shortly.

As previously guided, the claims made against Strand Capital Ltd have now all been moved to the claims processing teams of the UK Financial Services Compensation Scheme (FSCS) for assessment. Decisions on these claims will be sent out shortly, the body says in its latest update on this matter.

As FSCS outlined in its previous update, it is aware that FCA-authorised advisers may have recommended customers invest with Strand Capital Ltd. Or they may have recommended transferring existing pensions or investments through a self-invested personal pension (SIPP).

If this applies to you and the adviser is still trading, you need to complain to that adviser. If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS). After adjudication from the FOS, you can make a claim with FSCS.

If, however, the advice came from an FCA-authorised adviser that is not trading currently, you should firstly submit a claim to FSCS against the financial adviser.

Strand was an investment management firm that was placed into Special Administration on May 17, 2017.

Those customers of Strand Capital who believe they have a claim against the firm are advised to visit the dedicated section of FSCS’s website.

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