The FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services firms.
A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it.
This paves the way for customers of that firm to make a claim for compensation.
Alex Kuczynski, director of corporate affairs, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance.
“We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.”
Since it began in 2001, FSCS has helped more than 4.5 million people, paying out more than £26bn ($37bn, €30bn) in compensation.
In February, the UK lifeboat scheme declared 24 firms in default, including three IFA firms.
Default firms
Greater London
Beaufort Asset Clearing Services Limited
Beaufort Securities Limited
Mortgage Partner Services Limited t/a Blevins Franks Mortgage Services (formerly t/a Blackstone Franks Mortgage Services Limited)
South East
Ebullio Capital Management LLP
West Midlands
North West
Total Financial Control Limited
Yorkshire and the Humber
Alan Driver Financial Services
Approved Financial Solutions Limited
East Midlands
R Kalisiak, C Wells & S Kalisiak t/a Goldsmith Insurance
East
Regent Wealth Limited
Northern Ireland
C3 Financial Services Limited (formerly t/a Foyle & Lagan Limited)
