FCA wins bankruptcy order against insurance broker Arthur Temlett
Customers of Abacus Insurance Consultants are urged to check their cover after a Sheriff made the broker bankrupt following FCA action.
Bankruptcy order granted
The Financial Conduct Authority (FCA) has secured a bankruptcy order against Arthur Temlett, who traded as Abacus Insurance Consultants. A Sheriff granted the order, known in Scotland as sequestration, on 27 August 2026, following an application by the regulator.
Emma Porter of Aver Chartered Accountants has been appointed trustee. She will assess Mr Temlett’s financial affairs and seek to distribute any recovered funds to creditors.
Background to the case
The FCA stopped Mr Temlett from carrying out any regulated activities, including acting as an insurance broker, on 21 January 2025. The regulator acted over concerns that he may have sold home and motor insurance without passing premium payments on to the insurer.
Mr Temlett is awaiting trial on embezzlement charges brought after an investigation by Police Scotland.
What customers should check
The FCA says that as Abacus stopped regulated activities in January 2025, most previous policies are likely to have expired or been renewed with another provider by now. Customers who are concerned should contact their insurance provider directly to confirm their cover is valid and in place. Anyone left uninsured should arrange alternative cover immediately, either directly from an insurer or through a broker, with the British Insurance Brokers’ Association able to help find an authorised firm.
Anyone who believes they paid for a policy that does not exist should report it to Police Scotland on 101, quoting crime reference CR/0470100/24. The same reference applies to anyone who took out investments with Abacus.
Complaints and compensation routes
Customers with an existing complaint against Abacus may have a claim for compensation and should contact the trustee for details on how this will be handled. Anyone with an ongoing case at the Financial Ombudsman Service does not need to take further action, as the Ombudsman will make contact about next steps, though customers should also notify the trustee.
The Financial Services Compensation Scheme (FSCS) is open to claims against Abacus, and anyone who has already made a claim will be contacted about next steps. More information on submitting a claim is available on the FSCS website. Whether a claim is covered depends on the FSCS’s compensation rules, and the scheme operates independently of the FCA.
Warning over fraudsters
The FCA has warned that fraudsters sometimes pose as representatives of legitimate firms it authorises, or, in bankruptcy cases, as the appointed trustee. It cautioned customers to be wary of anyone claiming to be from Abacus, Arthur Temlett or the trustee who asks for payment in order to return money.
What happens next
The trustee, Emma Porter at Aver Chartered Accountants, is now responsible for assessing Mr Temlett’s financial affairs and distributing any recovered funds to creditors. Customers of Abacus, including those with policies, investments or complaints, have been told to contact the trustee directly for guidance on their individual circumstances.