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Blankstone Sington Ltd trading as BS CFDs

Failed 06/02/2024

FRN: 143694

Blankstone Sington Ltd was declared in default by the FSCS on 6 February 2024 following several months of investigations.

However, the FSCS remain closed to claims, but is investigating whether there are claims eligible for compensation. And how they may be dealt with.

The latest FSCS update advised customers that: “There is still a considerable amount of work to do before customers can be reunited with their money and assets.”

The FSCS said it had taken the next step of declaring default as it “confirms that FSCS believes the firm owes money to its customers and cannot meet the costs of any claims itself.”

Why did Blankstone Sington Ltd go into administration?

In October 2023, the firm, which also traded as BS CFDs, appointed Joint Special Administrators following a Court Order under the Investment Bank Special Administration Regulations.

The Financial Conduct Authority (FCA) took ‘temporary action’ and placed restrictions on the Blankstone Sington in November 2021.

These restrictions prevented the firm from disposing of its assets or accepting new client money clients without the Regulator’s written consent.

FSCS Claims against Blankstone Sington Ltd

The FSCS is not open to customer claims at present.(Feb 2024)

In December 2023 the FSCS said it expected it was able to pay compensation to eligible Blankstone Sington clients.

However, due to the special administration process the FSCS can’t make compensation payments until the JSA’s distribution plan has been approved by the Clients’ and Creditors’ Committee and the Court.

Making a claim with the FSCS

You can submit a claim yourself for free with the FSCS.

Here’s some useful links to get you started …

Financial Services Compensation Scheme
FSCS Making a claim
FSCS Contact Us

Money Helper
How to spot a pension scam

Money & Pensions Service
How MaPS can help those who have been scammed on their pensions

Using our Claims service to handle your claim

Pension Claim Consulting is one of the UK’s leading claims companies and specialists in mis-sold pensions claims.

We treat every case individually and you’ll get a personal, tailored service which includes full investigations, regular updates and complete management of your claim.

If we are unsuccessful in securing an offer of compensation, you will not have to pay our success fee.

For successful claims – our fee is calculated at 15%+VAT (total 18%) of the total amount of compensation offered to you. Our fee is capped at £7,500 + VAT.

If you’d like to know more call or arrange a free initial assessment. We can tell you if we think you have a case.

It’s completely confidential and there’s absolutely no obligation to use our service.

Key Facts

1
Blankstone Sington Ltd was declared in default by the FSCS following several months of investigations
2
The firm entered special administration in October 2023
3
The FSCS is not open to customer claims at present.

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.