FSCS declares further 27 firms in default

The FSCS says declaring a firm in default is the final part of a process in which an FSA-regulated firm has been found unable, or likely to be unable, to pay claims against it. It says customers who have lost money as a result of dealings with one of these firms might be able to make a claim for compensation to the FSCS. Among the 27 firms declared in default include London-based Riverside Independent Financial Advisers and Jonathan Fell. “The FSCS aims to provide an effective and efficient compensation service for consumers, and helps maintain confidence in the financial services sec...