How does the UK lifeboat service forecast its levy?
Compensation costs, management expenses, recoveries and surpluses/deficits all part of process
FSCS
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Nine UK firms in default between June and July 2021
Eight of which provided financial advice, planning and insurance services
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Appeal costs force LCF victims to drop FSCS legal challenge
Losing could have resulted in a £600,000 bill for bondholders
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PEOPLE MOVES: JP Morgan AM, AJ Bell, MFSA
Asset manager names Australia and New Zealand CEO, as investment platform appoints managing director
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Are unregulated investments ever a good idea?
Bad news travels fast and folklore can create a general mistrust of the industry
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UK regulator to review FSCS compensation payouts
As it aims to ‘stabilise’ and ‘reduce’ the scale of redress liabilities in the medium to long term
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£57m jump in UK lifeboat scheme compensation
It paid redress to clients of 1,131 failed firms, 92 of which went bust in the last financial year
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10 UK firms defaulted between April and May 2021
Seven of which provided financial advice and/or life insurance services
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FSCS backtracks on UK advice firm failure
After the lifeboat service said investors could be eligible for compensation
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UK advice company fails
Months after it received an asset retention requirement from the FCA
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UK lifeboat scheme reduces 2021/22 levy to £833m
Lower forecast sparked by delays in Sipp claims and extension of government support for businesses
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Just 12% of UK retirees have taken advice from an IFA
As 20% said they considered riskier pension products for the higher rate of interest