Two financial advice firms were declared in default in September by the Financial Services Compensation Schemes (FSCS).
Clients of Kent-based Foreman Financial Services and Northern Ireland-based The Financial Factory could now be in line for compensation if they have lost money as a result of their dealing with these advice businesses. Three other financial firms were also declared in default: London-based Cygnus Investment Management, London-based J. Soussan, Esq., and Independent Mortgage Advice Bureau from Hertfordshire. FSCS CEO Mark Neale to step down in May 2019 A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it. Clients of tha...
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