FSCS proposes cut in running costs levy
The UKs financial regulators have proposed a £5.5m ($8.3m, 7.2m) decrease in the Financial Services Compensation Schemes (FSCS) running costs.
ANNOUNCEMENT: UK Adviser is now PA Adviser. Read more.
The UKs financial regulators have proposed a £5.5m ($8.3m, 7.2m) decrease in the Financial Services Compensation Schemes (FSCS) running costs.
An investment firm director has been ordered to pay £1.5m in compensation over his involvement in a fraudulent global fund for which he was previously jailed.
Chase de Vere Independent Financial Advisers has been hit with a fine of £560,000 over the sale of Keydata products.
The chairman of a new ombudsman service for financial services in the Channel Islands has been named as David Thomas, a lawyer who was appointed as the UK banking ombudsman in 1997 and subsequently became a principal ombudsman with the UK Financial Ombudsman Service.