City of London FCA regulated financial adviser declared in default

The UK's Financial Services Compensation Scheme said on 30 April it is accepting claims against City of London financial adviser firm Alexander David Securities Ltd after declaring it in default.

One claim against it has been upheld so far which triggered the default declaration from a total of 463 claims with 51 rejected and 411 in progress.

Based in Queen Victoria Street in the City of London, the Financial Conduct Authority cancelled its authorisation in May 2023.

Alexander David Securities was an FCA-regulated firm authorised to conduct investment-related activities.

On 1 July 2022, ADSL entered creditors’ voluntary liquidation and Shane Cooks, Emma Sayers and Malcolm Cohen of BDO LLP were appointed as joint liquidators.