FSCS receives 700 fewer investment claims

Its annual report published today revealed the scheme received 23,603 claims for the investment intermediation sub-class in the last financial year, compared to 24,301 in 2009/10. One factor accounting for the decrease was a significant reduction in claims in respect of Pacific Continental Securities and Square Mile Securities from the previous year. However, the FSCS said Keydata accounted for the largest proportion of new claims in the year, with 18,355 new claims. It added 32,196 claims were completed in the sub-class during the year (compared with 15,188 during 2009/10), with 9...