Essex IFA firm EB Securities Limited (FRN 478541) has been declared in default today (14 August) by the Financial Services Compensation Scheme.
It is the second adviser firm this week to be declared in default
The FSCS said it had received one upheld claim against EB Securities relating to general investments. The claim fell within the Life Distribution, Pensions & Investment Intermediation sector.
The firm, which had 11 regulated individuals working for it at one stage, was based in Brentwood, Essex.
Companies House records show the firm, which ceased to be regulated after 2010, was voluntarily struck off the Companies House register in 2011, 15 years ago. However the claim against it is believed to be recent.
EB Securities balance sheet for 2009 showed it made a loss that year of over £673,000 although it held nearly £203,000 in cash at the bank.
Earlier this week, Norwich Financial Planning firm Signpost Financial Planning Ltd (FRN: 575237) was declared in default by the FSCS.
A default declaration by the FSCS, the industry levy-funded safety net, is usually made when a firm is unable to meet outstanding claims against it. The declaration of default opens the door to ex-customers to claim up to £85,000 per successful claim from the FSCS.
 Promote your vacancy to thousands of professionals on Financial Planning JobsÂ
Our specialist jobs service Financial Planning Jobs can help you reach nearly 12,000 financial professionals. You can set up an Employer Profile and post your job the same day on Financial Planning Jobs (terms apply). Dozens of Financial Planning and Paraplanning firms have used our affordable service to recruit new talent.
