|Printable version||E-mail this to a friend|
MF Global account holders will start to receive compensation imminently
The FSCS is finalising its pay-out process and is close to making its first compensation payments to customers of MF Global UK Limited.
The Scheme has now sent compensation application forms to all MF Global UK Limited joint account holders and private individuals who had not previously been contacted, and to corporate and trust account holders. This is in addition to the 4,000 plus private customers with individual accounts who had previously been sent application forms. Any customers who do not receive an application form by 15 March should contact the FSCS Initial Contact Team.
Customers should be aware that the FSCS cannot process claims until claimants have agreed their balances with KPMG, the special administrators of MF Global UK Limited. After this, the special administrators will provide agreed balances to FSCS, to allow FSCS to make payments to eligible claimants.
Where the balances may be subject to future review, FSCS expects to follow the administrators approach and adopt the lower of the alternatives at this stage.
The FSCS will continue to keep customers of MF Global UK Limited informed about its progress by providing a further update on its website when it is in a position to do so.
Latest News from
Payment update for customers of Alpari21/07/2015 11:25:00
The Financial Services Compensation Scheme (FSCS) is continuing to pay compensation to customers of Alpari (UK) Limited who have agreed their balances with the joint special administrators via the Alpari claims portal. If the account is held in joint names, or in the name of a trust or corporate entity, the claimant will be required to complete an FSCS application form.
FSCS pays out £327m in compensation to consumers SIPP-related claims in 2014/15 increase17/07/2015 11:10:00
The Financial Services Compensation Scheme (FSCS) paid out £327m in compensation to consumers in 2014/15, according to its latest Annual Report and Accounts out yesterday(16 July).
New protection from today for temporary high balances06/07/2015 10:25:00
Some consumers with temporary high balances covered up to £1m