UK Financial Services Compensation Scheme declares 12 firms in default in Mar 2020

Maria Nikolova

Clients of 12 firms could be in line for compensation as these firms have been declared in default by FSCS.

The UK Financial Services Compensation Scheme (FSCS) declared 12 failed regulated firms in default during March 2020.

Consumers could get back the money they have lost as a result of their dealings with any of these 12 firms:

  • Tenebris Realisations Limited (formerly Seymour Pierce Limited) 29/30 Cornhill, London, EC4N 8EL
  • Ashley Law Limited 30-32 Staines Road, Hounslow, TW3 3LZ
  • A J Cook (Insurance Brokers) Limited 34 Foundation Street, Ipswich, Suffolk, IP41BN
  • New Mersey Motor Co Limited S T C House, Speke Hall Road, Liverpool, L24 9HD
  • Octagon Motor Company Limited Jubilee House, John Nike Way, Bracknell, Berkshire, RG12 8TN
  • ARLWM Limited t/a Montgomery Financial Consultants Croxtons Mill, Blasford Hill, Little Waltham, Chelmsford, Essex, CM3 3PJ
  • Huntsman Hawkes Limited 2 James Whatman Court, Turkey Mill, Ashford Road, Maidstone, Kent, ME14 5PP
  • Organic Investment Management Limited c/o RSM Restructuring Advisory LLP, Highfield Court, Tollgate, Chandler’s Ford, Eastleigh, Hampshire, SO53 3TY
  • Devonshire Asset Management Limited 5 Barnfield Crescent, Exeter, Devon, EX1 1QT
  • One Wealth Management Limited C/o Murray Stewart Fraser Ltd, The Pentagon Centre, 36 Washington Street, Glasgow, G38AZ
  • Midas Financial Solutions (Scotland) Limited 23 Carden Place, Aberdeen, AB10 1UQ
  • MacKintosh Cunningham Consulting Limited 335/337 Baltic Chambers, 50 Wellington Street, Glasgow, G2 6HJ

FSCS is able to protect customers of authorised financial services firms that carry out certain regulated activities. A declaration of default means the Scheme is satisfied a firm is unable to pay claims for compensation made against it. This paves the way for customers of that firm to make a claim for compensation with FSCS.

Let’s recall that FSCS declared 15 failed firms in default in February 2020. For the period between November 1, 2019 and January 31, 2020, a total of 30 firms were declared in default by the Scheme.

Since it began operating in 2001, FSCS has helped more than 4.5 million people, paying out more than £26 billion in compensation. The Scheme paid a total of £473 million in compensation to 425,760 customers of failed firms during 2018/19. This amount compares with the £405 million FSCS paid in compensation in the previous year.

Read this next

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

<