Customers of Active Wealth (UK) may be entitled to compensation from FSCS

Written by Adam Cadle

The Financial Services Compensation Scheme (FSCS) is aware that Active Wealth (UK) Ltd is in creditors’ voluntary liquidation, and is preparing to declare the firm in default.

FSCS is working closely with the Financial Conduct Authority to understand the firm’s position.

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 to FSCS.

FSCS’s chief executive Mark Neale said: “We are working as quickly as possible to provide some certainty for customers. We are preparing to start considering claims as soon as we receive them and will provide further updates on our website as more information becomes available.”

Meanwhile, customers who believe they may have a claim can submit an application using FSCS’s online claims service.

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