The Financial Services Compensation Scheme (FSCS) is preparing to assess claims against liquidated structured products manager Merchant Capital.
It said it considers the company - which ran some 230 structured investment plans - is liable to some investors for certain costs it contractually promised they would not face, after the company failed in 2013. The FSCS said it had received claims against Merchant in relation to charges deducted from maturity proceeds of certain structured investments by Reyker Securities, which acted as custodian of the investments. It said it is working to finalise a process for these claims and expects to inform affected customers by the end of next month. Background The FSCS declared Mer...
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