Mini-bond compensation scheme to end in October
Around 99.5% of victims have been paid redress
Compensation
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Regulator slammed over British Steel redress calculation issues
FCA faces a potential judicial review if problems are not resolved
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Compensation for Meyado UK clients nears £1m
Lifeboat service is still assessing claims against the firm
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Redress solution for bad pension transfer advice likely to cause more problems
If enacted, the recommendations could put consumers in a worse tax position
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Succession sets aside £10.4m for potential legacy DB liabilities
It is working closely with the FCA about pension transfer advice given by an acquired business
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Sky-high inflation risks British Steel victims being short changed
‘Based on the current methodology, the higher the rate of gilt yields then the lower the redress will be’
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FCA urges victims of jailed adviser to come forward
Ahead of confiscation hearing as they may be awarded compensation
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FSCS to shut down mini-bond compensation scheme
But urges relatives of deceased bondholders to come forward
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Victims of bad pension transfer advice to receive more compensation
Proposed changes in calculation will apply to British Steel members as well
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UK investors received £584m in compensation in 2021-22
Lifeboat scheme paid out £114m to 9,000 mini-bond victims in six months
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Give more money to fraud victims, says UK prosecution service
Current legislation limits how much compensation can be paid out
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FSCS cap saw investors lose £1bn in compensation
Pension advice claims made up almost half of the total