FSCS declares Marvell Enterprises Ltd in default
The UK Financial Services Compensation Scheme (FSCS) declared Marvell Enterprises Ltd ‘in default’ on 13 October 2023.
This means FSCS can now pay compensation to customers if claims are valid. The body continues to assess claims on an individual basis.
Marvell was incorporated on 2 July 2019 and was registered with the Financial Conduct Authority (FCA) from 16 January 2021 as a limited permission credit broker, with secondary broking permission. They were subsequently closed to business on 11 November 2021.
Marvell was involved in offering high-yield bonds and ISA products and carrying out regulated investment activities for which it did not have permission.
FSCS has been working with the FCA and the Financial Ombudsman Service to investigate Marvell’s activities.
If you believe Marvell was involved in advising on and/or arranging a bond, ISA or any other product, you can make a claim against the firm with FSCS.