British Steel firm Portal Financial declared failed by the FSCS

FOS has upheld 184 investment and pensions claims against the firm

Ayesha Venkataraman
clock • 2 min read

The Financial Services Compensation Scheme (FSCS) has declared Portal Financial Services as failed.

The firm, previously trading as Portafina and Portal Financial, applied to cancel its authorisation by the Financial Conduct Authority (FCA) on 18 June 2021. On 18 January 2023, Portal entered compulsory liquidation.  The firm's co-directors Timothy David Moore, Andrew Richard Moore, Paul Stephen Wheal, Shaun Christopher Murphy, and Andrew Jamie Smith-Thompson, who also holds compliance oversight and money laundering reporting roles, according to the FCA register. The firm previously had four appointed representatives including Berkeley Smythe and Partners (8 Nov 2010 to 5 July 201...

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