Six financial firms failed by FSCS in August and September

Including Pro-Synergy Wealth & Tax Management and Green Gem Financial

Jenna Brown
clock • 2 min read

The Financial Services Compensation Scheme (FSCS) has confirmed a total of six firms were declared in default – meaning clients can potentially make claims against them – in August and September.

In a regular update, the lifeboat fund said the firms were all now out of business and unable to meet any claims themselves meaning the FSCS can step in. The six firms were Green Gem Financial, Mark Peter Houlbrook (trading as Thorn Investment and Pension Services), Barton Hatcher Ingram Financial Management, Triple A Financial Services, Pro-Synergy Wealth & Tax Management and Colbourne & Company. Green Gem Financial was linked to the British Steel Pension Scheme scandal. The Birmingham-based firm was declared in default by the lifeboat fund in August after the first claim against ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA acknowledges investment trust platform clash and proposes changes in call for wider CCI input

FCA acknowledges investment trust platform clash and proposes changes in call for wider CCI input

Final rules outlined in 2025

Eve Maddock-Jones
clock 19 December 2024 • 6 min read
WealthTek boss John Dance charged with £64m fraud and money laundering

WealthTek boss John Dance charged with £64m fraud and money laundering

‘One of the most serious and largest frauds’ ever investigated by FCA

Jenna Brown
clock 19 December 2024 • 2 min read
Number of financial firms failed by FSCS increases in October and November

Number of financial firms failed by FSCS increases in October and November

Including Charterhouse and Advice & Wealth Management Solutions

Isabel Baxter
clock 18 December 2024 • 2 min read