Financial compensation calculations have been overhauled following failures that saw beleaguered investors in two Arch Cru funds underpaid by about £800,000 by the UK’s Financial Services Compensation Scheme (FSCS).
UK consumers have been warned to avoid a Russian website claiming to be a subsidiary of the Financial Services Compensation Scheme (FSCS).
Product providers could be on the hook for 25% of the Financial Services Compensation Scheme (FSCS) costs currently paid by intermediaries, according to a consultation document released Monday.
The UK’s Financial Services Compensation Scheme (FSCS) is the latest body to warn consumers that scammers are using its reputation in a bid to defraud them.
The Financial Services Compensation Scheme (FSCS) forked out £105m ($135.6m, €119.1m) in 2016/17 to compensate clients who were wrongly advised to transfer their savings into “risky assets” held in self-invested personal pension schemes (Sipps).
The UK’s Financial Services Compensation Scheme (FSCS) may still impose an interim levy on life and pension advisers despite a fall in the average cost of Sipp-related claims.
Investors in the ill-fated CF Arch Cru Funds have been offered the opportunity to have their claims reviewed and settled now by the Financial Services Compensation Scheme (FSCS), after it was revealed that the funds will not be wound up until December 2018 at the earliest.
Complaints about self-invested personal pension schemes (Sipps) have increased, according to latest figures from the UK’s Financial Ombudsman Service (FOS).
The Financial Services Compensation Scheme (FSCS) has warned consumers to be on their guard against an email scam promising a $5.7m (£4.5m, €5.3m) payment to encourage people to provide personal information.
Harlequin Property SVG, the land-owning unit behind the £400m ($509m, €454m) overseas property scheme facing ruin, has entered interim receivership while its flagship resort has closed after the electricity was disconnected.
The UK regulator has proposed changing the financial compensation scheme to make riskier, so-called ‘polluter’ firms pay higher levies.
The UK’s Financial Services Compensation Scheme (FSCS) has warned it may impose an interim levy on life and pension advisers over the increasing number of claims related to self-invested personal pension schemes (Sipps).
