Woodford investors to press ahead with claim against Hargreaves Lansdown
RGL Management are preparing a second claim against the platform
Compensation
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Woodford investors to receive initial £185.7m distribution
Redress to be paid out today, almost five years on from fund’s initial suspension
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Decision to sanction Woodford redress scheme delayed until February
After two-day hearing on 18 and 19 January
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Voting opens on Link’s £230m Woodford scheme of arrangement
If approved, the firm anticipates an initial distribution to be made in Q1 next year
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Redress for victims ‘impossible’ under FCA compensation changes
Activist Gina Miller files complaint against regulator over reforms to its scheme
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FCA to return £3.4m to investment scheme victims
They were promised unrealistic high returns such as ‘up to 100% of the amount invested’
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FSCS provides Reyker Securities clients hope over accessing trapped assets
High Court has approved an asset distribution plan for failed wealth manager
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FSCS names eight failed advice firms
Clients of eight failed advice firms can get their money back after the UK compensation scheme added them to its list of firms in default.
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FCA challenged to name and shame closet tracker firms
The Financial Conduct Authority’s (FCA) action to make asset managers stump up £34m in compensation for “closet trackers” initially seemed like a win for investors, but the regulator has refused to name companies involved, even though one is facing an enforcement investigation.
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Asset managers stump up £34m compensation for closet trackers
The Financial Conduct Authority (FCA) has ordered asset managers to pay investors £34m in compensation after overcharging for “closet tracker” funds, in a move described as “hugely positive” for investors.
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FSCS system overhauled after Arch Cru compensation failure
Financial compensation calculations have been overhauled following failures which meant beleaguered investors in two Arch Cru funds were underpaid by about £800,000.
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Retail space facing £24m bill to cover FSCS shortfall
Wealth managers and advisers are facing a £24m bill to cover a shortfall in funding for the Financial Services Compensation Scheme (FSCS), it emerged this week.