Payouts to MF Global Account Holders Continue

May 31, 2012 /

The Financial Services Compensation Scheme (FSCS) is continuing to assess claims and make payments where it can to MF Global account holders who return their application forms.

The FSCS said it needs to ensure that each claim is eligible in accordance with the rules and that it is paying the correct amount of compensation in every case.

Some of the work the FSCS is doing in assessing the eligibility of MF Global claims is proving to be more complex and time-consuming than it expected, it said.

“We therefore appreciate your patience whilst we work as quickly as possible to assess those claims that are still outstanding and make compensation payments,” the FSCS added.

The FSCS will provide any further updates on its website when it is in a position to do so.

Last month, more than £130,000 has been paid to customers of MF Global UK Limited through the FSCS.

Nearly 80% of client statements were issued following the payments made to customers of MF Global UK Limited.

The special administrators have produced statements for around 5,200 customers, which represents approximately 79% of customers.

 

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