Thousands of investors who lost money may now get some back
More people who lost their savings in the so-called split cap investment scandal are to get some money back.
Splits were high-risk investments but were often advertised and sold mistakenly as low-risk ones - they failed disastrously through mis-management and changed market conditions.
Now thousands of investors who lost money but fell outside a previous compensation scheme can make claims if they dealt with a firm called Exeter Fund Managers.
It has officially been declared "in default" by the Financial Services Compensation Scheme (FSCS), the statutory safety net that can consider individual investor claims of up to £48,000.
FSCS director Ron Devlin explained more.
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