FSCS to consider claims against Merchant Capital

Expects to inform customers by the end of next month

clock

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...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

FCA reviewing client categorisation rules to clearly distinguish retail investors from the pack

FCA reviewing client categorisation rules to clearly distinguish retail investors from the pack

Goal of 40 more initiatives to be completed by year end

Eve Maddock-Jones
clock 10 July 2025 • 2 min read
Non-financial misconduct to be considered rules breach under updated framework

Non-financial misconduct to be considered rules breach under updated framework

Effective from September 2026

Cristian Angeloni
clock 02 July 2025 • 2 min read
FCA payable fees to drop by close to £10m in the next year

FCA payable fees to drop by close to £10m in the next year

Criticism over increased fees

Patrick Brusnahan
clock 01 July 2025 • 1 min read
Trustpilot