The UK's Financial Services Compensation Scheme has announced that the vast majority of clients of Beaufort Asset Clearing Services will retrieve all their cash and assets.

The distribution plan was agreed by Beaufort’s creditors’ committee on 13th July, and was approved by the High Court on 26 July, and became effective on 27 July.

It lays out the way in which the administrators who work with the FSCS plan to return Beaufort customers’ money and assets. The Financial Conduct Authority suspended the London brokerage firm's operations in March, declaring it insolvent and appointing PwC as its liquidators. Fraud charges followed in the US.