IBP Markets Limited was declared in default by the Financial Services Compensation Scheme in May 2025. The decision followed the firm’s entry into special administration in October 2023 and a thorough FSCS investigation into the circumstances surrounding its collapse. If you had money with IBP Markets, whether as client money or as custody assets, this declaration opens the route to compensation of up to £85,000 per eligible person.
IBP Markets Limited (FRN 520929) was an FCA-regulated wholesale broker that provided custody and market access services to non-retail clients, including equity and fixed income securities. At its peak, the firm held around £36 million in client money and £653 million in client assets in custody. Those figures make clear why the firm’s collapse raised serious concerns across the financial services industry.
The FCA moved in September 2023, imposing restrictions that immediately stopped IBP Markets from carrying on any regulated activities. The regulator cited concerns about client money protections and risks connected to financial crime. Under FCA rules, client money must be held separately from a firm’s own money, and it appears those safeguards were not maintained to the required standard.
Following the restrictions, IBP Markets’ directors applied to the court for special administration. David Soden and James Bennett of Teneo Financial Advisory Limited were appointed joint special administrators on 13 October 2023. Their task is to return client money and custody assets as quickly as practicable and to manage the wind-down of the firm in the best interests of creditors.
If you held money or assets with IBP Markets, or if a financial adviser recommended you use the firm and you suffered losses as a result, you may be entitled to FSCS compensation. You should not feel embarrassed about what happened. The firm was regulated, and those who relied on it had every reason to expect their money was properly protected. If that expectation was not met, the fault lies with the firm, not with you.
Get Help With Your Claim
If you had dealings with IBP Markets Limited and are worried about your money, please book a free consultation with our team. You may feel embarrassed about what has happened, but you should not. You were let down by people who had a professional and legal duty to act in your best interest. We will carry out all the investigative work on your behalf, at no cost to you. If your claim is not successful, you will not pay a penny. Call us during office hours or email hello@claimmyloss.co.uk – we are here for you.
