UK FSCS Confirms Twelve Firms in Default in August and September 2021

The Financial Services Compensation Scheme (FSCS), the UK's statutory Deposit insurance and investors compensation scheme, has declared 12 firms in default from 1 August to 30 September 2021, which is more than the figure of the prior two months​.

According to the institution, people who have dealt with any of the 12 firms and believe they are owed money as a result, can now make a claim to the FSCS.

“FSCS is here to contribute to financial stability in the UK. FSCS protection increases consumer confidence when buying financial products and services, and our compensation helps put customers back on track should financial firms fail,”Sarah Marin, Chief Customer Officer at FSCS, said.

The 12 firms confirmed to be in default after FSCS' investigations include the following:

August 2021 (six firms)

Advicelite Ltd, trading as (t/a) Investorlite, Isalite, Pension & Investor Lite (FRN 464011), Denby House, Stafford Court, Stafford Park, Telford, Shropshire TF3 3BD.

AFX Markets Ltd, t/a STO, Quantic Prime, tradealot, XSecurities, eloFX (FRN 560872), 33 Sun Street, Second Floor, London EC2M 2PY.

BPI 55 Ltd, formerly Broadstone Pensions & Investments Ltd, BDO Investment Management Ltd (FRN 118291), 55 Baker Street, London W1U 7EU.

City of London Markets Ltd, t/a Berkeley Capital (FRN 595844), 1 Royal Exchange, London EC3V 3DG.

Omada Investment Management Ltd, t/a T/A Fairfax Investment Management Ltd (FRN 468801), 2 Harewood Place, London W1S 1BX.

Thomson Brown Financial Management Ltd, t/a Audley Asset Management (FRN 474874), Annfield House, 1 Eskbank Toll, Eskbank, Midlothian EH22 3DY.

September 2021 (six firms)

CFP Management Ltd (FRN 571695), 79 Caroline Street, Birmingham, West Midlands B3 1UP.

Clear Capital Management LLP, t/a Clear Advice, Kalis Capital LLP (FRN 598743), Mailbox 10, Unit 1, Lewis Industrial Estate, Radford Road, Nottingham, Nottinghamshire NG7 7NQ.

Coniston Wealth Management Ltd, t/a Lighthouse (Coniston) Ltd (FRN 400512), 119 Nayland Road, Mile End, Colchester, Essex CO4 5EW.

David Meek Ltd, t/a David Meek Daewoo, David Meek Group, David Meek Proton (FRN 310312), Barton Hill Road, Torquay, Devon TQ2 8HN.

S. Financial Advice Service Ltd (FRN 401098), 8 Bridgeton Cross, Glasgow, Lanarkshire G40 1BW.

Rock Financial Consultants 2002 Ltd (FRN 400096), 8 Cwrt-Ucha Terrace, Port Talbot, West Glamorgan SA13 1LD.