FSCS makes push on LCF bondholder compensation


The Financial Services Compensation Scheme (FSCS) is still contacting London Capital and Finance (LCF) bondholders yet to receive compensation.

In an update today (10 March) the lifeboat fund urges those who are expecting to hear from the lifeboat fund to check their spam folders.

It asks them to add emails from FSCS to their ‘trusted’ or ‘safe senders’ list to ensure they go to their inboxes.

The FSCS will also be contacting bondholders who received more than £68,000 in FSCS compensation.

Under the scheme rules set by the government, compensation is set at 80% of bondholders’ original investment, up to a maximum of £68,000.

Anyone who received more than this from FSCS is not eligible for further compensation.

The update adds: “If you’re concerned about scams, remember that we will never ask for money, nor will we contact you via social media. Be wary of any emails, letters or calls claiming to be from LCF or someone else offering to help get access to compensation.”

In January the FSCS warned LCF bondholders who had been approached by what appeared to be scammers via emails.

It has issued cheques for over 11,500 bonds totaling £105m.

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