The Financial Services Compensation Scheme has declared London-based Ozen Financial Services Limited in default.
According to the FCA Register, the firm’s authorisation was revoked by the regulator in June 2023, as a result of enforcement action and it can no longer provide regulated activities and products.
The firm also has an active proposal to strike off after it had a compulsory strike-off action suspended in October 2022.
The lifeboat scheme told FT Adviser it had received three claims in total, with one upheld, all relating to mortgage advice.
This comes after the FSCS declared London-based Holistic Pension Transfer Specialists and Sussex-based J Monroe Ltd in default, last week (July 4).
In relation to Holistic Pension Transfer Specialists, it had received 11 claims relating to pension transfer advice.
While the lifeboat scheme confirmed the first claim it had received for J Monroe Ltd was also upheld with the firm covering life distribution, pensions and investment intermediation.
