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.
Since it began in 2001, FSCS has helped more than four and a half million people, paying out more than £26bn ($37bn, €30bn) in compensation.
In April, the FSCS declared 11 firms in default, while in February it declared 24 firms.
Default firms
South East
Full Circle Asset Management Limited
West Midlands
Munroe James Limited
Intelligent Financial Planning Limited trading as Intelligent Financial Planning
North West
Wigan Mortgage and Investment Centre
East
William Albert Securities Limited (formerly trading as Kerford Financial Ltd)
Wales
Stanley R Rogers Financial Services trading aa Stanley R Rogers
Bright Financial Partnership LLP
Strategic Wealth UK Limited trading as Gibro Wealth
