FSCS declares Scottish broker in default
The Financial Services Compensation Scheme has declared Scottish broker Arthur Temlett, trading as Abacus Insurance Consultants, as being ‘in default’ in its latest update on the ongoing situation.
The move on 16 October came as it has assessed a claim for an insurance policy that does not exist as being eligible for compensation.
The broker was first authorised on 29 April 1988 and had been operating in the Dumfries and Galloway area as a sole trader.
RelatedFCA issues restrictions on Scottish broker because of personal lines premium concerns FSCS opens to claims after Scottish broker stopped from trading by FCAThis January, the Financial Conduct Authority ordered Abacus to stop all
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