Court approves plan to fully reimburse failed DFM clients
UK compensation scheme to cover costs relating to administrators, lawyers and others involved
Compensation
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Australian bank’s advice compensation to hurt earnings
The bank said it is ‘determined to fix these issues and stop these errors occurring again’
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Call for UK regulator to halt 133% compensation limit spike
The impact on the professional indemnity insurance market is a key concern ahead of 1 April changes
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UK and Aussie watchdogs to help investors in illegal schemes
Investments were offered in carbon credits in Sierra Leone, Brazil and Australia
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UK compensation scheme recovers £300m from failed firms
The FSCS is currently pursuing recoveries against a failed property investment company
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Aviva raises compensation pot for Friends Provident transfers
Firm increased payout budget by £175m
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Cost of bad pension transfer advice doubles in two years
Exclusive data from the FSCS shows £40m was paid in 2018, up from £20m in 2016
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UK compensation scheme declares nine firms in default
Since 2001, more than 4.5 million people got £26bn in compensation
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UK compensation scheme battles death bond fund
The UK’s 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.
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Sipp complaints help push UK compensation to £405m
Customers of failed financial services firms received £405m (€458m, $530m) in compensation from the Financial Services Compensation Scheme (FSCS) in 2017/18, in part driven by a rise in Sipp complaints.
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Good news for investors in defunct Beaufort
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.
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Aussie complaints body gets launch date
The Australian Financial Complaints Authority (Afca) will provide “free, fast and binding dispute resolution to consumers and small businesses” from 1 November 2018.