There are a number of reasons you may have been mis sold shares:
- Firm was trading as a principle but failed to disclose this
- Risks were not adequately explained
- Firm failed to properly assess your financial circumstances
- Shares were unsuitable for you
- Broker gave you misleading or false information.
Who pays the compensation and what you need to know
Most cases will be presented to the Financial Services Compensation Scheme (FSCS).
The FSCS limits compensation to £85,000 per eligible person, per firm for firms which failed on or after the 1st April 2019.
The FSCS is the statutory fund of last resort and effectively steps into the shoes of any regulated firm that has been declared in default.
£50,000 per eligible person, per firm for firms which failed 1st January 2010 to 31 March 2019 and for firms which failed prior to this date £48,000.
In order to make a successful claim to the FSCS the claimant must provide sufficient evidence to prove that a civil liability exists against the firm. You will also need to demonstrate where the liability exists and present this to the FSCS. we are experts in this field although you may make your claim for free.