First victims of MF Global paid out

The Financial Services Compensation Scheme has made its first payout to victims of the collapse of MF Global. It has paid £130,000 to customers of the broking firm after receiving more than 4,000 claims from victims. However, it did not reveal how many of these were accounted for in the first payout.

The FSCS will only pay claims where the balance has been agreed by administrators KPMG.