The Financial Services Compensation Scheme is aiming to reimburse circa 2,700 clients of defunct Beaufort Asset Clearing Services next month, provided their investment was worth less than £2,000 ($2,802, €2,280).
The Financial Services Compensation Scheme (FSCS) declared 11 firms in default during March 2018, meaning that consumers could get back money they have lost.
Policyholders in Hong Kong will be protected for the first time should their insurer become insolvent if plans to introduce a mandatory industry-funded compensation scheme come to fruition.
Product providers could be on the hook for 25% of the Financial Services Compensation Scheme (FSCS) costs currently paid by intermediaries, according to a consultation document released Monday.
A financial advice firm has been ordered to pay compensation to a client who was wrongly categorised as a professional investor in order for her to invest in the now-collapsed New Earth Solutions Recycling Facilities Investment fund.
Axa Life Insurance Singapore has been ordered by the country’s High Court to pay compensation to a former employee for providing an unflattering reference to the Monetary Authority of Singapore (Mas) and his prospective employer, Prudential Assurance Company Singapore.
A couple who claimed Coutts mismanaged their discretionary portfolios have won a fight for compensation after taking their case to the Financial Ombudsman Service (FOS).
Levies set by the UK’s Financial Services Compensation Scheme (FSCS) hit an all-time high in 2015, with many firms concerned that they have reached unsustainable levels, according to APFA.
A review of the impact of mutual fund compensation schemes on financial advice and outcomes conducted on behalf of Canadian regulators has found there was enough evidence to justify the development of new payment policies.
A Scottish-based wealth management firm has gone bust after it was unable to pay back clients who were mis-sold high risk investments, and customers are now turning to the Financial Services Compensation Scheme to get their money back.
UK consumers who suffered investment losses after being advised to transfer funds into a self-invested personal pension (SIPP) can now claim compensation for the value of their investment.
Financial advisers have so far paid £52m in damages for recommending products from failed life settlement provider, Keydata Investment Services.
