UK Financial Services Compensation Scheme declares 35 firms in default between Aug and Oct

Maria Nikolova

Consumers could get back money they have lost as a result of their dealings with any of the 35 firms declared in default.

The UK Financial Services Compensation Scheme (FSCS) announces that it declared 35 failed regulated firms in default from August 1, 2019, to October 31, 2019. This means consumers are in line for compensation for the money they have lost as a result of their dealings with any of those 35 firms.

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.

Below is a list of the 35 firms declared in default in the August-October period:

August 2019 – 13 firms

  • Advanced Vehicle Sales Limited, 5-7 Clarence Road, London N22 8PG;
  • FIXI Plc, Atlas House, 1-7 King Street, London, EC2V 8AU;
  • Rex Judd Limited, 415 Burnt Oak Broadway, Edgware, Middlesex HA8 5AH;
  • Valiant Financial Consultants Limited, Valiant House, 12 Knoll Rise, Orpington, Kent BR6 0PG;
  • Wheelpower Bike Centre Limited t/a Aprilia Wheel-Power, 264 Grand Drive, London SW20 9NE;
  • Burnham Garage Limited t/a Burnham Hyundai, Burnham Vauxhall, Burnham Suzuki, Windsor Vauxhall, 87-89 Farnham Road, Slough, Berkshire, SL1 4UN;
  • Eastern Direct Finance, 4 Redwing Drive, Stowmarket, Suffolk IP14 5FN
  • Steptime Limited t/a Peter Brooks Honda, 918-920 Chesterfield Road, Sheffield, South Yorkshire, S8 0SH;
  • Taz Motorcycles Limited, 93 Queen Street, Sheffield, South Yorkshire, S1 1WF;
  • Colmore Cars (2000) Limited t/a Colmore 2000, 1163 Chester Road, Erdington, Birmingham, West Midlands, B24 0QY;
  • N-Hanced LLP, 3 Carlton Court, Fifth Avenue, Team Valley, Gateshead, Tyne and Wear, NE11 0AZ;
  • AETC Associates Limited, 106 Main Street, Wilsden, Bradford, BD15 0AB;
  • Bellfield Financial Services Limited, formerly Kirkintilloch Insurance Services Limited, 23 Moncrieffe Avenue, Lenzie, Glasgow, G66 4NL.

September 2019 – 13 firms

  • St Martin’s Partners LPP formerly CUOX LLP, Carter Clark Recovery House, 15-17 Roebuck Road, Hainault Business Park, Ilford, Essex, IG6 3TU;
  • Strathearn Insurance Services Limited t/a Strathearn Insurance, Suite 92, 100 Westminister Bridge Road, London, SE1 7XB;
  • East Sussex Motor Centre, London Road, Uckfield, East Sussex, TN22 2EA;
  • Property Finance Solutions (UK) Limited, 18 Farncombe Close, Wivelsfield Green, Haywards Heath, West Sussex, RH17 7RA;
  • Southern Honda Limited, 27-43 Ifield Road, Crawley, West Sussex, RH11 7AT;
  • WSW Financial Services Limited t/a WSW Wealth Management Suite 2, 2nd Floor Phoenix House, Brighton, BN1 2RT;
  • Bristol Finance & Warranty Limited, Glen Fern House, Carsons Road, Bristol, BS16 9LP;
  • Haxby’s of Plymouth Limited, 22-24 Valley Road, Plymouth, Devon, PL7 1RF;
  • Blackstone Independent Financial Advisers Limited, 22b Station Road, Cheadle Hulme, Cheshire, SK8 7AB;
  • Financial Provision Solutions Limited formerly PSTG Solutions Limited, Belgrave Place, 8 Manchester Road, Bury, Lancashire, BL9 0ED;
  • Motormile Finance Limited formerly Index Link Limited, Hazelcroft, 322 Harrogate Road, Bradford, West Yorkshire, BD2 3TB;
  • CPPT Services Limited formerly Central Financial Planning Limited, 1 Dairy Barns, Nut Hurst Grange Lane, Hockley Heath, Solihull, West Midlands, B94 5NL;
  • Ask Finance Limited, Deloitte LLP, Four Brindley Place, Birmingham, West Midlands, B1 2HZ.

October 2019 – 9 firms

  • Gowrings of Newbury Limited, The Triangle, Newbury, Berkshire, RG14 7HT;
  • KBW Associates Limited, The Joiners Shop, The Historic Dockyard, Chatham, Kent, ME4 4TZ;
  • Gerard Associates Limited, c/o PCR (Bristol) LLP, The Basement, 77A Alma Road, Clifton, Bristol, BSB 2DP;
  • A. Vincent Limited t/a Ethical Investments Limited, Cedar House, 100 Whirlowdale Road, Sheffield, South Yorkshire, S7 2NJ;
  • First Rate Home Finance Limited formerly S&P Finance Limited, 17 Station Road, Hinckley, Leicestershire, LE10 1AW;
  • Ormskirk Motors Limited t/a Ormskirk Vauxhall t/a Planet Finance, 20 Winmarleigh Street, Warrington, Cheshire, WA1 1JY;
  • Jacksons Cars Limited, Deloitte LLP, 5 Callaghan Square, South Glamorgan, Cardiff, CF10 5BT
  • Ron Treherne IFA Limited, 15 Lon Werdd, South Glamorgan, Cardiff, CF5 4SS;
  • A Millward & E Millward t/a City Gate Consultants, 85 Claremont Street, Lanarkshire, Glasgow, G3 7HU.

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

SEC bypassed commission vote in approving Ethereum ETFs

The Securities and Exchange Commission’s (SEC) Trading and Markets Division has approved several spot Ethereum exchange-traded funds (ETFs) using delegated authority, rather than a vote by the full commission.

blockdag

BlockDAG Presale Draws Massive $32.4M Hinting At its 30,000x ROI Potential, Overshadowing Retik Finance at Bitmart

Learn why BlockDAG’s innovative strategies and $32.4M presale success are making millionaires, overshadowing Retik Finance’s struggle on Bitmart.

Institutional FX

Malaysia’s exchange launches API for onboarding retail investors

“The Exchange actively listens to the evolving needs of our customers. This initiative is key in delivering on our commitment towards greater customer-centricity. We will continue to work closely with our POs and introduce service innovations to attract more investors, bolstering the competitiveness of our market.”

Fintech, Uncategorized

LiquidityBook welcomes JonesTrading to LBX Post-Trade Hub

“As we near the T+1 deadline, we are excited to continue helping firms achieve straight-through processing in addition to delivering new enhancements to our comprehensive range of cloud-native buy- and sell-side trading solutions.”

blockdag

Should I Invest Today? Which Altcoins Could Make 2-5X Profits Amid the Latest News?

Investing in cryptocurrencies can be a journey full of surprises, given their volatile nature.

Executive Moves

Bakkt promotes Ray Kamrath to CCO of Crypto

Bakkt has promoted Ray Kamrath to Chief Commercial Officer of the company providing custody, trading, and onramps to the crypto space.

Industry News, Uncategorized

HSBC relocates US headquarters to The Spiral, New York

HSBC has opened its new U.S. headquarters at The Spiral, a renowned office building in New York City’s Hudson Yards neighborhood.

blockdag

Best Cryptos to Buy Before the Real Bull Run Kicks Off

With the bull run of 2024 already underway, investors are eager to identify cryptocurrencies that promise significant growth.

Market News

This time is different – is it?

The stock market wants lower interest rates – or rather, it has been expecting them for months. Justified? The US economy looks very robust, so higher interest rates would actually be the order of the day.

<