Customers in line for compensation after FSCS declares 9 firms in default

Written by Adam Cadle

Customers could be in line for compensation after the FSCS declared nine firms in default

The firms concerned are Ignition Select Limited, Talk Financial Solutions Limited, The Mortgage Consultants Limited. Accuro Finance Limited, Vans R Us (Southern) Limited, Ashfield Financial Planning (UK) Limited, Box Insurance Services and Newton General Insurance Services,Care Asset Management Limited and R W Harris Limited t/a Roger Harris and Company/Greystone Wealth Management,

FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services 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.

FSCS chief corporate affairs officer Alex Kuczynski said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance. We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.”

Since it began in 2001, FSCS has helped more than 4.5 million people, paying out more than £26bn in compensation.

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