Tesco Compensation Scheme: Broker Facilitated Process

Tesco Compensation Scheme: Broker Facilitated Process

Important information on how we are working with certain FCA-regulated brokers to facilitate a smooth claims process.

1000

Also on KPMG.com

Update:

We have been working with certain larger FCA-regulated brokers to facilitate a smooth claims process whereby the claim details (both personal details and transaction details) for clients of these brokers may be input directly to us by the broker.

If you are the client of such a broker, the broker may write to you shortly before the launch of the scheme to either inform you that it will provide, or to seek your permission to provide us with the necessary information in respect of your claim.

We expect that, wherever possible, claimants will wish to participate through this route as it reduces the effort required by the claimant to submit a claim and will also allow any payment to be made to the claimant more quickly. Please note, however, that this route is not open to claimants who traded relevant Tesco shares, bonds or related transactions through multiple brokers.

Please also note: if you are contacted by your broker and you wish to have your broker facilitate your claim in this way, you will need to:

i. Ensure your broker has up-to-date contact information, including a mobile phone number, toallow you to be able to log into the online claims portal following launch to confirm your detailsand submit your claim;

ii. Respond promptly to your broker in advance of the scheme launch as failure to do so will meanthe ability to benefit from this broker facilitation will lapse (although you will still be able to submita claim yourself after the launch of the scheme);

iii. Be aware that, under this process, any compensation payment made to you will be paid to theaccount you hold with the broker.

A call line for individual queries and detailed FAQs will be available upon launch of the scheme, which is expected in August.

In the meantime, please see the attached FAQs on the broker facilitated claim process.

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.