FSCS confirms appointment of TenetConnect administrator
On 5 June 2024 the directors appointed Ed Boyle, Howard Smith and Rob Spence of Interpath Ltd as Joint Administrators of Tenet Group Ltd.
On June 5, 2024, the directors of Interpath Ltd appointed Ed Boyle, Howard Smith, and Rob Spence as joint administrators of Tenet Group Ltd. Ed Boyle and Rob Spence were also appointed as joint administrators of its subsidiaries: Tenet Ltd, TenetConnect Ltd, and TenetConnect Services Ltd.
Tenet Mortgage Services Ltd and Tenet Financial Services Ltd have ceased trading but have not entered administration. TenetConnect Services Ltd is directly authorized by the Financial Conduct Authority (FCA) and acts as the principal firm for several appointed representatives.
The UK Financial Services Compensation Scheme (FSCS) is aware that many customers are waiting to be contacted regarding reviews of past defined benefit pension transfer advice. These advisories were provided by appointed representatives under the regulatory responsibility of TenetConnect Services Ltd.
These customers may be eligible to apply for compensation from the FSCS. FSCS is working closely with the joint administrators to secure the data necessary for processing these potential claims, and customers do not need to proactively contact FSCS.
During the period in which FSCS is obtaining, securing, and organizing the data related to the past business reviews, it will not accept claims against TenetConnect Services Ltd. Based on FSCS's experience, this process may take several months.
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