Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2021-09-01.

Timeline guidance

COMP 5.2 What is a protected claim?

COMP 5.2.1R

A protected claim is:

  1. (1)

    [deleted]9

    6
  2. (2)

    [deleted]9

  3. (3)

    a claim in connection with protected investment business (see COMP 5.5); or3

  4. (4)

    a claim in connection with protected home finance mediation5 (see COMP 5.6); or34

    5
  5. (5)

    a claim in connection with protected non-investment insurance distribution11 (see COMP 5.7); or9

    42
  6. (6)

    9a claim in connection with protected debt management business (see COMP 5.8).

COMP 5.2.2G
  1. (5.2.2

    [deleted]2

    2. 1

Claims in respect of Law Society members

COMP 5.2.3R

7Notwithstanding COMP 5.2.1 R and paragraph (1)(d) of the definition of participant firm,910 where the relevant person is in default:

  1. (1)

    is an authorised professional firm that is subject to the rules of the Law Society (England and Wales) or the Law Society of Scotland; and

  2. (2)

    with respect to its regulated activities, does not participate in the relevant society's compensation scheme:

a claim with respect to that person is only a protected claim if, when the basis for the claim arose, that person did not participate in the relevant society's compensation scheme with respect to its regulated activities.

Claims in respect of successors

COMP 5.2.4G

8Where a claim for compensation is in respect of a claim against a successor, the following rules apply to the relevant person for whose liabilities the successor has assumed responsibility (or to such relevant person’s activities, as the case may be):

  1. (1)

    8COMP 5.5.1R;

  2. (2)

    8COMP 5.5.2R;

  3. (3)

    8COMP 5.5.3R;

  4. (4)

    8COMP 5.6.1R;

  5. (5)

    8COMP 5.6.2R;

  6. (6)

    8COMP 5.7.2R; and12

  7. (7)

    12COMP 5.8.1R.