The regulator revealed that it had asked the court to make the broker bankrupt
The FCA has secured a bankruptcy order against Arthur Temlett, trading as Abacus Insurance Consultants.
In January 2025, the FCA said it was concerned the Scottish broker may have been selling home or motor insurance and not passing premium payments on to the insurance provider.
As a result, restrictions were put in place, with the broker not allowed to carry out any regulated activities, including acting as an insurance broker.
In a statement on 28 September 2026, the FCA said that Arthur Temlett is awaiting trial on embezzlement charges brought following an investigation by Police Scotland.
It also revealed that it had asked the court to make the broker bankrupt, with the Sheriff granting the application on 27 August 2026.
“Emma Porter of Aver Chartered Accountants was appointed as trustee,” the FCA said.
”She will now assess Temlett’s financial affairs and seek to distribute any recovered funds to creditors.”
Next steps
The FCA added that because of the restrictions placed last year, it expects that most previous policies will have expired or been renewed with another provider by now.
Read: Broker fined £1.1m and banned by FCA for misusing funds due to insurers
Read: FCA bans and fines broker for dishonest conduct
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”However, if customers are concerned, they should contact their insurance providers directly to check that their insurance is valid and in place. If they are uninsured, they should arrange alternative cover immediately,” the regulator added.
“Alternative insurance can be bought directly from an insurance firm or arranged via an insurance broker. Biba is external offers a service for customers who need help finding an authorised broker.
”Anyone who believes they have paid for a policy that does not exist should report this to Police Scotland in the first instance by dialling 101 and using the crime reference number: CR/0470100/24.
“Customers should also contact the trustee. The trustee will explain to you what to do if you are affected.”
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