Update as at 9 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