The Financial Services Compensation Scheme (FSCS), which helps consumers when authorised financial services firms fail, is battling to recover money paid out to investors in a fund that went into liquidation but has since resumed making distributions.
Customers of failed financial services firms received £405m in compensation from the Financial Services Compensation Scheme (FSCS) in 2017/18, in part driven by a rise in Sipp complaints.
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.
Nearly all individual customers of Beaufort Asset Clearing Services are expected to be protected in full for the return of money and assets, the UK’s Financial Services Compensation Scheme (FSCS) has confirmed.
The UK’s pension lifeboat scheme has made its first compensation payments, totalling £5.7m, to customers of the failed discretionary fund manager Strand Capital.
The UK financial regulator has released major plans to force intermediaries to pay 25% of advisers’ Financial Services Compensation Scheme (FSCS) bills, despite strong opposition.
The UK’s Financial Services Compensation Scheme expects to shortly make the first payments to customers of discretionary fund manager Strand Capital, which entered administration in May 2017.
Three advisory firms, along with 21 other financial businesses, were declared in default by the Financial Services Compensation Scheme (FSCS) in February.
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have appointed a chair of the Financial Services Compensation Scheme (FSCS), with Marshall Bailey replacing Lawrence Churchill.
Financial compensation calculations have been overhauled following failures which meant beleaguered investors in two Arch Cru funds were underpaid by about £800,000.
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.
Consumers have been warned to avoid a Russian website claiming to be a subsidiary of the Financial Services Compensation Scheme.
