JLG Group Plc was not regulated by the Financial Conduct Authority (FCA), the financial regulator, and was issuing its own bonds, which is generally not a regulated activity. Because of this, customers of the Company are not able to claim compensation through FSCS on this basis.
However, we understand that authorised firms may be responsible for introducing and/or advising customers to invest in JLG Group Plc’s bonds. It is therefore possible where this is the case, and subject to certain eligibility criteria, that the FSCS may be able to consider a claim against JLG Group Plc or the authorised firm involved.
In the first instance, customers that dealt with an FCA-authorised firm should make contact with the authorised firm itself and/or the Financial Ombudsman Service (FOS) to make a claim. If the regulated firm is unable to settle any claim you may have because it is itself insolvent, the FSCS at that point may consider your claim.
Please note, the FSCS is operationally independent of the FCA and it is the FSCS that determines whether compensation is payable under the FCA’s compensation rules. Bondholders can find further information on the FSCS website. You may be able to claim compensation from the Financial Services Compensation Scheme (FSCS), depending on FCA criteria.
You can find out more on the FCA website.
Customers that dealt with an FCA-authorised firm also have the option to contact the Financial Ombudsman Service (FOS) or the FCA - as well as the authorised firm itself.