Walton-on-Thames-based Independently East Ltd (IEL) entered compulsory liquidation on 11 September 2023 following an application made by the Financial Conduct Authority (FCA).
This comes several months after the UK watchdog placed restrictions on IEL for failing to engage with the regulator “in an open and cooperative way”.
This meant that the firm’s accounts were frozen and permissions to carry out regulatory activities were cancelled.
The Official Receiver has been appointed as liquidator to wind up IEL for the benefit of its creditors and will be writing to all known creditors shortly to explain what this means and how to make a claim.
Also, the Financial Services Compensation Scheme (FSCS) said it is open to customer claims against IEL.
The FSCS will be investigating the firm to see if any of the claims will meet the qualifying conditions for compensation. As part of this investigation, the UK lifeboat scheme will be working closely with the FCA and the Official Receiver.
If clients already have a claim with the Financial Ombudsman Service (FOS), they don’t need to take any action now.
