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ICS opens way for compensation claims against three more IFAs

The Investors Compensation Scheme is opening the way for customers to formally lodge applications for compensation against three former IFAs.


The firms are Portfolio Investment Services, Burnawn Financial Services Limited and Michael Lee & Company Limited.


The ICS is declaring the firms in default because it is satisfied that they are likely to be financially unable to meet investment related claims against them.


The scheme is contacting customers of these firms to offer advice about the application procedure.

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