Day Cooper Adams have gone into liquidation owing thousands to clients for whom they were supposedly handling claims.
Not only did they take fees up front but they accepted compensation payments ordered by FOS which have now apparently also been lost never having been paid over.
You can read the more in the blog on yourmoney.co.uk and and find links to articles on the news story.
The question to be asked is why did FOS / FSA / Justice Ministry allow a situation to arise where a firm regulated by the justice ministry can handle client money with no apparent protection.
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