UK Financial Services Compensation Scheme declares 15 firms in default in Feb 2020

Maria Nikolova

Consumers could get back money they have lost as a result of their dealings with any of the 15 firms declared in default.

The UK Financial Services Compensation Scheme (FSCS) declared 15 failed regulated firms in default during February 2020. The Scheme announces these declarations regularly, in order to let consumers know they could get back money they have lost as a result of their dealings with any of those firms.

Declarations by FSCS between February 1, 2020 and February 29, 2020:

  • Hector McLean Financial Consultants, Barry House, 20-22 Worple Road, Wimbledon, London, SW19 4DH
  • N.J Associates, Manor House, 13 High St, Hampton, Middlesex, TW12 2SA
  • Knight Finance (European) Limited, 28 Carlton Avenue, Worksop, Nottinghamshire, S81 7JZ
  • Intuitive Financial Associates LLP, The Cornerhouse, Robey Close, Linby, Nottingham, NG15 8AA
  • Prime Mortgage Brokers Limited, 7 Upper High Street, Cradley Heath, West Midlands, B64 5HX
  • Imperious Capital LLP, 17 Cosgrove Road, Old Stratford, Milton Keynes, MK19 6AG
  • Totus Capital Limited formerly STG Financial Services Limited t/a Totus Wealth Matters, Sovereign Court, 207 Witan Gate, Milton Keynes, MK92HP
  • PNG Enfield Limited, High Street, Waltham Cross, Hertfordshire, EN87BT
  • Asset Independent Financial Advisors Limited t/a Asset IFA, Asset Independent Mortgages, Home Estate, West Court, Hesslewood Hall, Ferriby Road, Hessle, North Humberside, HU130LH
  • WJR Wealth Management Limited formerly Walker Johnston Robinson Limited, 11 Austin Boulevard, 9 Woolmans Close, Sunderland, SR52AL
  • County Motors (Carlisle) Limited t/a Eden Commercial Services/Express Factors, Fairview House, Carlisle, Cumbria, CA1 1HP
  • Serenus Consulting Limited, 3 Portal Business Park, Eaton Lane, Eaton, Tarporley, Cheshire, CW69DL
  • Release Money Limited formerly Release Finance Limited, Release Finance Ltd, Bridge House, Bury, Lancashire, BL9 7HT
  • GPC SIPP Ltd formerly Guardian Pension Consultants Limited, Guardian House, Capricorn Park, Blakewater Road, Blackburn, Lancashire, BB15QR
  • CBL Insurance Europe DAC, c/o Allied Risk Management Limited, 13 Fitzwilliam Street Upper, Dublin 2.

Let’s recall that FSCS declared 30 failed regulated firms in default between November 1, 2019 and January 31, 2020.

FSCS is the UK’s statutory compensation scheme that protects customers of authorised financial services firms that carry out certain regulated activities. A declaration of default means FSCS 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.

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.

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