FSCS opens door to first BSPS compensation cases

The Financial Services Compensation Scheme has listed 11 failed advice firms it declared in default in March in a move which will mean some British Steel Pension Transfer clients being compensated. The FSCS move allows customers of the 11 firms to make a claim for compensation. The firm in default also include DFM provider Beaufort.Alex Kuczynski, director of corporate affairs at FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust.“We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help.” Since it was launched in 2001, the FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.The full list of March defaults is below. Active Wealth was one firm involved in the BSPS pensions transfer issues which saw large numbers of British Steel pensions transfer their pension pots to other providers.Declarations by FSCS from 1 March to 31 March 2018GREATER LONDONBeaufort Asset Clearing Services Limited, 63 ST. MARY AXE, LONDON, EC3A 8AABeaufort Securities Limited, 63 ST. MARY AXE, LONDON, EC3A 8AAMortgage Partner Services Limited t/a Blevins Franks Mortgage Services (formerly t/a Blackstone Franks Mortgage Services Limited), GABLE HOUSE, 239 REGENTS PARK RD, LONDON, N3 3LFSOUTH EASTEbullio Capital Management LLP, RSM RESTRUCTURING ADVISORY LLP, HIGHFIELD COURT, TOLLGATE, CHANDERS FORD, EASTLEIGH, HAMPSHIRE, SO53 3TYWEST MIDLANDSActive Wealth (UK) Limited, GIPSY LANE, WILLENHALL, WEST MIDLANDS, WV13 2HANORTH WESTTotal Financial Control Limited, BRAMLEY HOUSE, 56 BRAMHALL LANE SOUTH, BRAMHALL, CHESHIRE, SK7 1AHYORKSHIRE AND THE HUMBERAlan Driver Financial Services, 5 HAIGH WOOD ROAD, COOKRIDGE, LEEDS, WEST YORKSHIRE, LS16 6PDApproved Financial Solutions Limited, SUITE K, SHEFFIELD BUSINESS CENTRE, EUROPA LINK, SHEFFIELD, SOUTH YORKSHIRE, S9 1XZEAST MIDLANDSR Kalisiak, C Wells & S Kalisiak t/a Goldsmith Insurance, 6 STRELLEY ROAD, ASPLEY, NOTTINGHAM, NG8 3APEASTRegent Wealth Limited, 69 THE RIDGEWAY, NORTHAW, HERTFORDSHIRE, EN6 4BDNORTHERN IRELANDC3 Financial Services Limited (formerly t/a Foyle & Lagan Limited), 89 DEERPARK ROAD, BELFAST, BT14 7PW

FSCS opens door to first BSPS compensation cases

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