Clients of failed Nottingham fund manager urged to claim compensation

A Nottingham-based discretionary fund manager has been declared in default, with the Financial Services Compensation Scheme (FSCS) saying that consumers could be in line for compensation.

Clear Capital Management was declared in default on 29 September, having ceased trading on 22 June. The firm traded as Clear Advice and Kalis Capital. It acted as an adviser for fixed-rate corporate bonds issued by an organisation called Corporate Finance Bonds.

In April, the company was placed under restrictions by the FCA which prevented it from being an agent dealing in investments without the permission of the regulator. Clear was de-authorised by the FCA on July 27.

It its latest available accounts, the company made a loss of £109,000 for the year to the end of March 2019.

Sarah Marin, chief customer officer at FSCS, said: “FSCS is here to contribute to financial stability in the UK. FSCS protection increases consumer confidence when buying financial products and services, and our compensation helps put customers back on track should financial firms fail.

“Compensation may be available if people have suffered losses due to the failure of a financial services firm. We are a free and independent service and customers can claim directly from us.”