Independent Portfolio Managers Ltd has failed
London-based Independent Portfolio Managers Limited (IPM) has become the latest firm to fail after it was declared in default on 3 December 2018.
The news comes after a long-running dispute between IPM and its customers, which saw investors lose millions from the failure of two mini bonds that the firm had promoted. Many of these customers still have outstanding complaints with IPM and the Financial Ombudsman Service.
Jimmy Barber, Chief Operating Officer at FSCS, yesterday said:
“We estimate that 2,000 UK customers may be affected by the failure of IPM. However, the value of potential negligence claims is still unknown. We encourage all former IPM customers who think they might be entitled to compensation to make a claim on our website right away.”
Latest News from
LAMP Insurance apply for receivership21/05/2019 16:10:00
LAMP Insurance Company Limited (LAMP) has submitted an application to the Supreme Court of Gibraltar to appoint the Official Receiver and place LAMP into liquidation. The hearing date is set for 31 May 2019.
Steelworkers get improved payouts from Financial Services Compensation Scheme09/04/2019 16:05:00
The Financial Services Compensation Scheme (FSCS) has issued an update today (9th April 2019) about its compensation decisions for British Steel Pension Scheme (BSPS) members affected by the failure of Active Wealth, which wrongly advised them on pension transfers. The FSCS update comes ahead of a debate tomorrow in Parliament led by Nick Smith MP about the steelworkers' case.
Parkhead Credit Union Ltd has failed04/04/2019 10:25:00
The Financial Services Compensation Scheme (FSCS) has announced the failure of Glasgow-based Parkhead Credit Union Limited, which was declared in default on 3 April, 2019.
FSCS extends its deadline to secure a better outcome for customers of CRL Management02/04/2019 12:25:00
FSCS extends its deadline to secure a better outcome for customers of CRL Management.
Greater Milton and Possilpark Credit Union Ltd has failed13/03/2019 12:25:00
The Financial Services Compensation Scheme (FSCS) has announced the failure of Glasgow-based Greater Milton and Possilpark Credit Union Limited, which was declared in default on 12 March, 2019.
London Capital & Finance plc has failed07/03/2019 10:25:00
London Capital & Finance plc is in Administration. The Administrators are representatives from Smith & Williamson LLP.
Beaufort clients warned of potential scam11/02/2019 10:25:00
Beaufort administrators PricewaterhouseCoopers (PwC) have made FSCS aware that Beaufort clients are being approached by individuals claiming to be representatives of PwC or The Share Centre Limited (TSC).
FSCS warns consumers of potential scam05/02/2019 10:20:00
We want to make consumers aware of phishing emails claiming to be from FSCS that ask people to register a claim to receive large amounts of outstanding monies owed. These emails ask consumers to provide personal details.