compensation for missold shares

shoi

Fool that I am I was a customer of a dodgy stockbroker whom the FSA has now shut down (see http://ftalphaville.ft.com/blog/tag/montague-pitman/)

I have suddenly subscribed to the compensation culture.

Any idea who I should approach, FSA, Financial Ombudsman, FSCS, Gordon Brown?

Reaper

Your link was to an article back in January. I assume you made a complaint to the stockbrokers at the time as described?

If so and they have now gone bust unable to pay your legitimate claim then the FSCS should cover it. However I have just been onto their web site and Montague Pitman are not listed as being eligible.

I suggest you start by contacting the FSCS to find out why not.

EDIT: It seems Montague Pitman are just the authorised agents for Falcon Securities who were the FSA registered ones, and who are currently in Administration. However they are not showing on the FSCS site either. My guess is they are waiting for the Administrators to see what assets they can recover first.

dunstonh

Gordon Brown?

lol.

I have suddenly subscribed to the compensation culture.

Not everything the company did was wrong. Were you affected by the things that were done wrong? If yes, then complain to the FSCS. If not, then you cant just expect compensation.

Also, are you out of pocket financially? Some wrong decisions can leave you better off (just thinking if you bought in 2009 then you would likely have seen strong gains).

shoi

Thanks for the advice, FSCS it is, lets see what happens.
As to the quality of their advice, they sold an awful lot of complete duds, my explanation now is a combination of cockup and conspiracy, sort of like George W, who must have known he wasn't up to the job, but did it anyway.

dealer_wins

You do know you will get precisely nothing LOL