On October 10th, the Financial Services Compensation Scheme (FSCS) announced that a total of 12 companies had defaulted during August and September this year and were unable to repay any claims on their own. At the same time, it is reminded that customers of these companies can seek compensation from FSCS.
FSCS is a deposit protection scheme established by the Financial Services Regulatory Authority (FCA) in the UK. FSCS is an independent organization that provides free services to consumers. If a company regulated by the FCA ceases operations and is unable to pay customers' claims, FSCS will intervene and be responsible for compensation. The compensation protection scope of FSCS includes deposits, insurance, and investments.
Sarah Marin, Chief Customer Service Officer of FSCS, said, "Losing money is a stressful thing and it's hard to think of what to do next. If you're a customer of any of these companies who suffered economic losses due to company failure, you may receive compensation from FSCS. We have a free online claims service, and our professional claims personnel will always provide you with full guidance
According to FSCS's announcement, these 12 defaulting companies are:
1. Arrow Financial Services UK Ltd operated under Arrow Asset Management (FRN 528826)
Address: 1 Grey Friars, Chester, Chelsea, CH1 2NW
2. Chryson Ltd trading operated under IQ Money, Chryson Wealth Management, and Sharebatch UK (FRN 491208)
Address: 7 Torrence Avenue, East Kilbridge, Glasgow, G75 0RN
3. Consolo Capital LLP trading (FRN 570728) on Green-ifisa.com and Renewable-bonds.com
Address: 33 Cavendish Square, London, W1G 0PW
4. Crosbie Carr Morris Ltd (FRN 799406)
Address: 5 Athole Crescent, Edinburgh, EH3 8EJ
5. David Craig (FRN 503340)
Address: 39 Powderham Drive, South Glamorgan, Cardiff, CF11 8ND
6. Focus Oxford LLP operated by Focus Independent Financial Advisers and Independent Insurance Consultants (FRN 594369)
Address: Seacourt Tower, West Way, Oxford, OX2 0JL
Hastings&Rother Credit Union Ltd (FRN 213644) operating under 1066 Community Bank
Address: Jackson Hall, Portland Place, Hastings, East Sussex, TN34 1QN
8. Leslie&Swallow LLP operated by Aston Collie (FRN 601807)
Address: 24 Downsview, Chatham, Kent, ME5 0AP
9. Mike Norris Financial Services Ltd (FRN 542126)
Address: 19 Chatsworth, Great Holm, Milton Keynes, Buckinghamshire, MK8 9AS
10. MLM Wealth Management Ltd operated under MLM Financial Services (FRN 784277)
Address: 16 Carron Street, Nairn, IV12 5SJ
11. The Financial Planning Practice Ltd (FRN 223388)
Address: 21 Murray Street, Llanelli, SA15 1AQ
12.6 Towns Credit Union Ltd (FRN 419396)
Address: Room 8, Greets Green Community Enterprise, 157 Wood Lane, West Bromwich, West Midlands, B70 9PT
