Just 1% of mini-bonds victims to be compensated
Action group says it’s ‘bad news’ but it will use the decision as strong political leverage
FSCS
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UK advisers on the hook as life boat scheme seeks extra £46m
Main area of claims is in relation to pensions, says Financial Services Compensation Scheme
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The value of whistleblowers to the UK financial advice sector
Limited resources mean there is a need for advisers to speak out – but it can be seen as a ‘fruitless exercise’
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Nearly 20 UK advisory firms declared in default
Between August and October 2019 and they were based all over the country
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Clients of collapsed wealth firm to be refunded brokerage costs
As joint special administrators work alongside UK lifeboat scheme to distribute assets
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Lifeboat scheme declares six UK firms in default
Majority of the businesses were based in the south west of England
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11 UK firms declared in default by lifeboat scheme
Company that used to represent Alan Shearer among those named
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Top UK firms to pay over 60% of compensation scheme levy
While majority of other companies will pay less than £50
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Mini-bond investors received advice and can get compensation
UK lifeboat scheme investigation into London Capital & Finance showed misleading advisory practices
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UK Sipp firm in default
It did not exercise sufficient due diligence and clients will be eligible to claim compensation
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Eight firms declared bust by UK lifeboat scheme
FSCS satisfied companies are unable to pay claims paving way for clients to pursue compensation
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UK Sipp provider enters administration
Advisers recommended clients transfer pensions which ended up in high risk, illiquid investments