The Financial Services Compensation Scheme (FSCS) has revealed it has paid out £25m in compensation to investors in Arch Cru and £1.8m over Keydata this financial year.
The scheme upheld 94% of Keydata and Arch Cru claims for the period. It has also paid out £29.6m related to the collapse of MF Global, where it upheld 92% of claims. Claims related to Worldspreads totalled £16m for the year with an upheld rate of 99%. The collapse of stockbrokers Pritchards cost the industry a further £6.5m in compensation costs, with 97% of claims upheld. The FSCS paid out a total of £326m in compensation during the year, it added, excluding the major banking failures of 2008/09, down from £347m in 2011/12.
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