Pritchard Stockbrokers Clients to Receive Application Forms

Kimberly Watson, Editor in Chief
September 18, 2012 /

The Financial Services Compensation Scheme (FSCS) has assured customers of Pritchard Stockbrokers Limited that they would receive application forms to make a claim for compensation in the coming weeks.

“When customers receive an application form they should complete it as fully as possible, and return it using the envelope provided, along with copies of any documentation they consider relevant to their claim,” FSCS said in a statement.

FSCS will then process completed application forms after clients have already agreed a balance with Mazars LLP, the Special Administrators of Pritchard, and this balance has due notification from Mazars.

Mazars have previously contacted clients to agree balances for each individual account, and FSCS will also register claims on an individual account basis. This means clients who held more than one account will receive more than one application form, and each form will need to be completed.

There may be delays in dealing with some claims where additional information is required from Mazars. In instances where aggregate balances are less than £50, FSCS said it would ask that clients request an application form to complete. Customers may phone or emailing FSCS.

When assessing claims, FSCS will only use balances that clients have already agreed with the Special Administrators. This balance, less any dividends paid, will be the amount of compensation that claimants will receive.

“FSCS is aware that there are some clients who may have a claim in relation to a shortfall in their share holdings,” it said.

“We are currently working with the Special Administrators to determine the value of the loss incurred by each individual and the appropriate process for compensating such clients,” FSCS added.

 

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