A2O put in default by FSCS

An FSCS spokeswoman confirmed A2O went into default in August and the scheme has received 180 claims against the firm. No estimate of the cost of claims has yet been established, she says. The network has been unable to take on new business since 21 January when the FSA changed its permissions. It entered administration on 26 January. A2O launched six years ago offering independent financial advice on areas including mortgages and insurance and with 47 appointed representatives (ARs). In a supervisory notice published last month, the FSA said it suspended the Winchester-based ...