Update as at 1st September 2026
The Investor Compensation Company DAC ("ICCL") has begun receiving certifications from the Joint Administrators of Strand Investments & Finance Limited (trading as 123 Financial Services) in respect of eligible investors who have suffered compensatable losses under the Investor Compensation Act 1998.
The ICCL is currently processing the certifications received and will be engaging directly with affected claimants in the coming weeks. This engagement will ordinarily begin with a telephone call from the ICCL to explain the outcome of the claim and the next steps in the compensation process. Where we are unable to contact a claimant by telephone, correspondence will issue to the contact details held by the ICCL requesting that the claimant contact the ICCL Claims Management Team.
If you have already submitted a completed claim form to the ICCL, no further action is required unless you are contacted by the ICCL.
Investors should note that the ICCL has no role in determining whether a compensatable loss exists. The certification of losses is a statutory responsibility of the Joint Administrators and is a prerequisite for any compensation payment that may be made by the ICCL.
Please note that the statutory compensation payable under the Investor Compensation Scheme is limited to the lower of:
- 90% of the investor's compensatable loss; or
- €20,000.
The ICCL will continue to keep investors informed of significant developments through updates published on this website.
For queries relating to the status of investments or the liquidation process, investors should contact the Joint Liquidators at strand.investments@crowe.ie.
For queries regarding the Investor Compensation Scheme or the compensation claims process, please contact the ICCL at claims@investorcompensation.ie.
Update as at 14th May 2026
The ICCL has now received a list of clients who obtained eligible investment services from Strand Investments & Finance Limited. This list has been entered into the ICCL’s systems and we are preparing to issue claim forms over the coming weeks.
The issuance of claim forms will take a number of weeks to complete with a current estimated date of the beginning of June to complete this process. If you do not receive a claim form by the end of the 1st week in June but believe that you have obtained eligible investment services from Strand Investments & Finance Limited, please contact us at that time. When you have received a claim form from the ICCL, please complete it fully, and return to the ICCL by email to claims@investorcompensation.ie as soon as feasible. The claim form will contain detailed instructions for completion.
Further to the above, it is important to note that receiving a claim form does not necessarily mean that there are losses within your eligible investments. The ICCL has no access to information regarding the status of your investments, this information resides with the Joint Liquidators, to whom any queries in that context should be directed to strand.investments@crowe.ie.
Finally, it should also be noted that the submission of a claim form to the ICCL does not automatically mean that an eligible client will receive compensation. The ICCL is unable to make any payment of compensation until such time as the Joint Administrators to Strand Investments & Finance Limited certify a compensatable loss as defined within the Investor Compensation Act,1998. The ICCL has no role in the certification process, this rests solely with the Joint Administrators and is a mandatory requirement to any compensation payment that may fall due. Where compensation is payable to an eligible investor, it can typically be paid by the ICCL within three weeks of receipt of the certification from the Joint Administrators.
Update as at 9th February 2026
The Investor Compensation Company (“ICCL”) is aware that Joint Liquidators / Administrators Mr Aiden Murphy and Mr Declan Hanly of Crowe Ireland were appointed to Strand Investments & Finance Limited (trading as 123 Financial Services) by the High Court on 9 February 2026.
As Strand Investments & Finance Limited is an authorised investment business firm and a member of the Investor Compensation Scheme, eligible investors of the firm that have incurred losses may be entitled to compensation.
The ICCL will be in contact with the Joint Administrators of Strand Investments & Finance Limited to obtain a list of clients that obtained regulated investment services from Strand Investments & Finance Limited. When the ICCL has received the client list from the Joint Administrators, the ICCL will contact all clients directly. Importantly, you do not need to contact the ICCL at this time.
We will endeavour, as best as possible, to keep clients affected by the matter up to date via our website or direct correspondence.
The ICCL does not have access to the client records of Strand Investments & Finance Limited. If you have a query about your regulated investment with Strand Investments & Finance Limited, please contact the Joint Liquidators by email at strand.investments@crowe.ie or call 01 448 2339.
What is the Investor Compensation Company (“ICCL”)?
The ICCL operates the statutory Compensation Scheme for retail clients of failed investment firms and is part of the financial safety net in Ireland. The Scheme is funded by the investment industry through the payment of statutory levies and can pay statutory compensation to eligible investors in certain circumstances.
What does the ICCL do?
If a Central Bank of Ireland regulated investment firm enters insolvency, the ICCL is required to invite claims for compensation from clients of this investment firm. The Joint Administrators will review each claim and decide if the client is entitled to compensation, in accordance with the Investor Compensation Act, 1998. In basic terms, the ICCL can pay compensation when regulated client money or regulated client assets are missing.
What are the statutory levels of compensation?
The statutory compensation limit is the lower of 90% of a client’s compensatable loss, or €20,000.
Is the ICCL inviting claims now?
The ICCL is currently not inviting claims for compensation as we must await receipt of the client list from the Joint Administrators. The ICCL will contact clients once we receive this information from the Joint Administrators.
How long will it take for the ICCL to contact me?
This process is likely to take a number of weeks to complete. Unfortunately, and until such time as we receive the client list, we are unable to provide any additional information as the ICCL does not have access to the books and records of Strand Investments & Finance Limited.
Where can I get further information on claiming compensation?
Click here to read the ICCL's information booklet for private investors "Claiming compensation when an investment firm fails."
Queries on the ICCL scheme and/or the claims process should be directed to the ICCL by emailing claims@investorcompensation.ie