The Financial Services Compensation Scheme (FSCS) has placed Yorkshire-based financial advice firm Gainsborough Financial Services in default.
Gainsborough is based in Leeds, West Yorkshire, and has had its authorisation revoked by the Financial Conduct Authority since 13 September 2023 after enforcement action was taken. The FSCS told Professional Adviser that Gainsborough was declared failed yesterday (25 November) after the first claim was upheld. The lifeboat fund also said that there are five claims made against the firm in total, with four still in progress. The claims all relate to pension transfers. No claims were British Steel-related. The news has come after the FSCS recently revealed that it expects to pay £372...
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