Context
On 21st January 2025, the Financial Conduct Authority (“FCA”) placed restrictions on Arthur Temlett in response to allegations that insurance premiums were not being passed on to insurers. Customers can refer to information published by the FCA on its website.
Key points to note and next actions
- FSCS has assessed a claim for an insurance policy that does not exist as eligible for compensation. As a result, FSCS has declared Arthur Temlett trading as Abacus Insurance Consultants to be ‘in default’ under its rules.
- The FSCS investigation into claims from customers in relation to the investment scheme is in its advanced stages. These claims remain on hold, but FSCS intends to publish a further update for customers by the end of November.