UK FSCS declares 11 firms in default in March 2021
More UK consumers could be in line for compensation as the Financial Services Compensation Scheme (FSCS) confirms that it has declared 11 firms in default in March 2021.
People who have dealt with any of the 11 firms listed below, and believe they are owed money as a result, can now make a claim to the FSCS.
Declarations by FSCS from 1 to 31 March 2021:
- Active Finance (Scotland) Limited (FRN 609259), 14 Parkhouse Street, Ayr, Ayrshire KA7 2HH
- Bartholomew Hawkins Limited, trading as (T/A) Turris Porta Wealth Management Limited (FRN 489590), 5 Oak Tree Court, Cardiff Gate Business Park, Cardiff, South Glamorgan CF23 8RS
- Blakemore Wealth Management Limited (FRN 581179), Langley House, Langley Road, Lower Penn, Wolverhampton, West Midlands WV4 4XX
- British Credit Trust Holdings Limited (FRN 312122), New Salisbury House, Slough, Berkshire SL1 1NA
- Crossbrook Insurance Brokers Limited (FRN 565493), 19 Turners Hill, Cheshunt, Waltham Cross, Hertfordshire EN8 8NJ
- DK Consulting (Berkshire) Limited, formerly Plan65 Limited, T/A Davidson Rae Financial Management (FRN 573597), James Cowper Kreston, 8th Floor South, Reading Bridge House, George Street, Reading, Berkshire RG1 8LS
- Estate Matters Financial Limited, T/A Pension Matters (FRN 472900), The Axis Building, Maingate, Kingsway North, Team Valley Trading Estate, Gateshead, Tyne and Wear NE11 0JH
- Hyde Financial Management Limited, formerly Imperial Wealth Management Limited (FRN 501271), Unit B, Upper Boat Trading Estate, Pontypridd, Mid-Glamorgan CF37 5BP
- Mansion Park Limited, T/A Mansion Park Scotland, T/A David Head MPL, T/A Michael J Alexander (FRN 209313), Tournament House, 4 Tournament Way, Ashby-de-la-Zouch, Leicestershire LE65 2UU
- Pentagon (UK) Limited, T/A MoneySaveSolutions.com, Eurodebt Financial Services (FRN 308066), 7 Franklin Court, Stannard Way, Priory Business Park, Bedford, Bedfordshire MK44 3JZ
- Solicitors Financial Services (Central Scotland) Limited, T/A Equity Financial Services (FRN 232377), 38 Alloa Business Centre, The Whins, Alloa, Clackmannanshire FK10 3SA
Let’s recall that, FSCS declared declared 14 firms in default in the first two months of 2021 and 45 firms were declared in default in the period from May to October 2020. A total of 13 firms were declared in default by the Scheme in November and December 2020.
Before FSCS can pay compensation, it must be satisfied that an authorised financial services firm is not in a financial position to meet claims against it (e.g. if the firm has failed and entered an insolvency process such as administration or liquidation). FSCS describes this as being ‘in default’. The Scheme will declare a firm in default if:
- it has received at least one claim; and
- it is satisfied that the firm is unable to return money to eligible customers itself.
The Scheme is required to do this before it can pay compensation to eligible customers.