The Financial Services Compensation Scheme has declared London-based European American Capital Services Ltd in default.
According to the FCA Register the firm has not been authorised since July 2023 and also previously held the name EA Capital.
The liftboat scheme told FT Adviser it had received seven claims against the firm all relating to general investments.
One claim has been upheld, one rejected and the rest are still in progress. The FSCS confirmed none of the claims were British Steel related.
Earlier this month the FSCS also declared Kent-based Inter-UK Financial Services Limited and Lanarkshire-based Advice & Wealth Management Solutions LLP in default.
Claims received by the lifeboat scheme were in relation to general investments, pension advice and Sipps.
alina.khan@ft.com
