FSCS declares 14 advice firms in default

The FSCS declares firms in default when is satisfied the firm is unable to pay claims for compensation made against it. It has already started to compensate consumers and is said to have received claims worth £500,000 against the 20 firms so far.  FSCS head of communications Mark Oakes said:"We have already started paying compensation in respect of these firms. However, we are encouraging anyone who has not been contacted by us and believes they may be owed money as a result of their dealings with any one of these firms to get in touch with FSCS." The defaulted investment, life or...