Mazars: 'FSCS will foot bill of almost all Merchant Capital customers'

The FSCS has said it will cover all investment claims under £50,000 and although some 5,500 Merchant Capital customers are still owned money by the company just 45 of the 5,500 were owed more than £5,000, according to a Mazars spokesperson. The amounts owed "are very small and almost all Merchant Capital clients will receive the money they are owed in full". The figures were made public by Mazars alongside details of a shortfall in client funds of £3.4m (with received claims at £27.1m and total funds of £23.7m). However, most of the clients affected will be direct Pritchard customers....