London-based protection and mortgage advice firm Ozen Financial Services was among the eight companies declared in default by the Financial Services Compensation Scheme (FSCS) over June and July.
The Financial Conduct Authority (FCA) cancelled the mortgage advice firm’s permission to carry out regulated activities after it failed to pay levies and fees to the regulator.
This included an invoice dated 15 September 2021 for £2,234.23, which had been due for payment by 14 December 2021, and an invoice dated 23 August 2022 for £1,840.31, which had been due for payment by 22 September 2022.
The mortgage advice firm’s permissions were cancelled on 9 June last year and the FSCS announced it had stopped trading on 5 July.
Other regulated companies that failed in June and July include:
- Haich and Associates Limited, formerly 14Lights Limited, NPD International Limited, based in Kington
- Broadlands Partnership, based in Glamorgan
- Elliot Financial Services Limited, based in Edinburgh
- Mackie Wealth Management Limited, based in Cardiff
- MacInnes & Bottomley, based in Glasgow
- Holistic Pension Transfer Specialists Limited, trading as HPTS, based in Chesterfield
- J Monroe Limited trading as Compendium Wealth, Summit Wealth Management, based in East Sussex
- Ozen Financial Services Limited, based in London
Jonathan Pallant, head of stakeholder and public affairs at the FSCS, said: “We know it can be incredibly stressful losing money when a financial firm fails. That is why we are reaching out to let customers know that they may be eligible for compensation if they have lost money with any of the eight UK-regulated financial services firms that failed in June and July 2024.
“FSCS is a free and independent claims service, and our claims handlers are ready to assist you.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
