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FSCS declares two British Steel firms in default


FSCS declares two British Steel firms in default
By
Jean-Baptiste Andrieux
21
st April 2021
4:07 pm
The Financial Services Compensation Scheme has declared collapsed British Steel IFA Bartholomew Hawkins Ltd and Mansion Park Ltd in default.
They are among 11 firms the lifeboat fund declared in default in March 2021.
The nine other firms the FSCS has declared in default are: Active Finance, Blakemore Wealth Management, British Credit Trust Holdings, Crossbrook Insurance Brokers, DK Consulting, Estate Matters Financial, Hyde Financial Management, Pentagon, and Solicitors Financial Services.
People who have dealt with any of these firms can now make claim for compensation from the FSCS. ....

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British Steel IFA Acklam Financial applies for liquidation


3
rd February 2021
1:20 pm
Acklam Financial Ltd, one of 10 initial British Steel that firms stopped giving pension transfer advice has applied for liquidation.
An update on Companies House shows the firm has applied to be struck off.
The FCA register also shows Acklam Financial applied to cancel its authorisation on 24 January.
It is the latest IFA involved in the British Steel pensions saga to head for the exit as fallout from the scandal continues.
They urged the FCA to take action on compensation for those conned out of their pensions, as well as take a tougher line on the role of unregulated introducers. ....

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FSCS declares six advice firms in default in November & December


FSCS declares six advice firms in default in November & December
13 overall
The Financial Services Compensation Scheme (FSCS) declared 13 firms in default in the months of November and December 2020, six of which were financial advice firms.
In November, the lifeboat fund declared the following companies in default: Drew Financial Services, Fiducia Wealth Solutions - formerly Regen Investments, J L Fisher Financial Services and Mentor Financial.
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FSCS declared 13 firms in default in November and December


It also protects insurance, investments, mortgage advice and arranging, and debt management.
Caroline Rainbird, chief executive at FSCS, said: “Because these firms are unable to pay back the money they owe their customers, FSCS can step in and pay them compensation.
“As chief executive, I see first-hand the important role FSCS plays to help people who have lost money through their dealings with financial services firms that have failed or are no longer trading.
“The impact of their financial loss should not be underestimated.
“People who claim through FSCS are often vulnerable.
“We treat each person with empathy and understanding as their claim is progressed.” ....

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