The UK Monetary Companies Compensation Scheme (FSCS) declared Marvell Enterprises Ltd ‘in default’ on 13 October 2023.
This implies FSCS can now pay compensation to clients if claims are legitimate. The physique continues to evaluate claims on a person foundation.
Marvell was included on 2 July 2019 and was registered with the Monetary Conduct Authority (FCA) from 16 January 2021 as a restricted permission credit score dealer, with secondary broking permission. They have been subsequently closed to enterprise on 11 November 2021.
Marvell was concerned in providing high-yield bonds and ISA merchandise and finishing up regulated funding actions for which it didn’t have permission.
FSCS has been working with the FCA and the Monetary Ombudsman Service to analyze Marvell’s actions.
In the event you imagine Marvell was concerned in advising on and/or arranging a bond, ISA or every other product, you may make a declare in opposition to the agency with FSCS.