A firm with one claim against it has been declared in default by the Financial Services Compensation Scheme.
Surrey-based Frobisher Capital Ltd was placed into default yesterday (October 29) but according to the FCA Register, the firm has not been authorised to provide regulated activities and products since November 2021.
The FSCS told FT Adviser that there is a single valid claim in process against the firm and it is investment advice related.
It confirmed the claim was not linked to the British Steel Pension Scheme.
The firm was also trading under Frobisher Capital Ltd as an authorised representative.
Earlier this week, the FSCS also declared London-based European American Capital Services Ltd in default.
The liftboat scheme told FT Adviser it had received seven claims against the firm all relating to general investments.
sonia.rach@ft.com
