Abandonment or sudden closure
Reviewed 25 November 2019
If you discover a recognised sole practice or firm regulated by us has closed without prior warning or that a firm regulated by us has been abandoned, you should contact us immediately and we will investigate.
Client money and papers may be at risk. We may need to take action to protect clients by appointing intervention agents to close the practice in a controlled way. They will freeze the firm's accounts and take possession of client papers for safe keeping, which they will then pass on to us, if they cannot return them to you or another legal adviser acting on your behalf. Learn more about what happens in an intervention.
If you had money or papers with a firm that has closed suddenly, we will do our best to return them to you. If you have lost money due to the dishonesty of an individual or firm regulated by us, you may be able to make a claim from our Compensation Fund. Read our guidance on how to claim your money and papers from us.