FSCS To Pay Out After Pensions Firm, Mortgage Adviser Fail

Law360, London (August 14, 2019, 4:58 PM BST) -- More U.K. consumers are set to get compensation after the Financial Services Compensation Scheme declared six firms in default last month, allowing customers facing losses to seek to recover their money.

Britain's deposit insurance program on Wednesday published its latest default list, which includes a pensions and investments company and a mortgage adviser. More details weren't provided.

A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it.

“FSCS steps in to protect consumers around the U.K. when authorized financial services firms go bust," said Alex Kuczynski, chief corporate affairs officer...

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