Emergency asset retention rules hit British Steel advice firms
To ensure they don’t weasel out of paying compensation to victims
British Steel
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Asset disposal ban for British Steel advice firm
Following letter from regulator warning companies to keep adequate financial resources
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British Steel advice firm fails
UK lifeboat scheme has received two claims against the business
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FCA: British Steel IFAs must not deplete financial resources
‘Dear CEO’ letter follows plans to set up compensation scheme for victims
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£71.2m plan to compensate British Steel Pension Scheme victims
343 advice firms will need to fork out a combined £9m to assess transfer suitability
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British Steel 2.0 scheme to give members £58m one-off payment
To ‘provide compensation’ to clients who don’t receive ‘inflationary increases’
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UK parliament unveils inquiry into British Steel pension scandal
FCA, ombudsman and lifeboat scheme to be questioned
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British Steel pension transfer advice unsuitable in 47% of cases
Members have lost £18m in redress due to firms entering liquidation
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Yet another British Steel IFA firm collapses
Lifeboat scheme is urging eligible clients to claim compensation
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British Steel advice firm stopped from disposing of assets
Regulator says company ‘appears to have paid dividends’ rather than retaining funds for potential redress
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12 UK firms go out of business
Eight of which provided financial advice and wealth management services
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British Steel advice firm fails
UK lifeboat scheme has already received 17 claims against the company