FSCS to start claims process for Catalyst/ARM in early 2014

The Financial Services Compensation Scheme (FSCS) said it is finalising the claims process for ARM investors with claims against Catalyst Investment Group, and hopes to start inviting claims in early 2014.

The scheme said it was working with the provisional liquidators of ARM Asset Backed Securities, which went into liquidation on 9 October, to gather the details needed to start compensation proceedings against its distributer Catalyst. "This work is ongoing and, once completed, we will be in a position to start inviting claims for compensation," the FSCS said. It added: "We hope to start inviting claims from early 2014 and, in any event, will provide a further update on our progress before the end of December 2013." The FSCS will accept claims from investors who invested in Luxembou...