UK compensation body passes claims against Horizon Stockbroking to processing team

Maria Nikolova

Each claim will be considered individually to see if compensation is due.

The UK Financial Services Compensation Scheme (FSCS) has published an update regarding the Horizon Stockbroking Ltd matter.

The Scheme has now passed claims against Horizon Stockbroking Ltd to its claims processing team for assessment. Each claim will be considered individually to see if compensation is due.

As FSCS has outlined in its previous update, it is aware that FCA-authorised advisers may have recommended that customers invest with Horizon Stockbroking Ltd. They may also 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 before making a claim to FSCS against Horizon Stockbroking Ltd. If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS).

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

Horizon Stockbroking Ltd was a wealth management company that offered discretionary fund management services. FSCS understands that customers have alleged that the firm did not properly assess their interests or attitude to risk before making investments on their behalf.

Those customers of Horizon Stockbroking who think they have a claim against the firm are advised to visit the ‘Check if you can claim’ section to start the process.

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