An appeal has been lodged by three financial advisory firms to overturn a decision made by the High Court to pay Keydata clients compensation before a legal battle with the Financial Services Compensation Scheme (FSCS) has been resolved.
The High Court has rejected an application for a judicial review to try to stall decisions on Keydata until after a decision by the Financial Services Compensation Scheme (FSCS) has been made.
The Financial Services Compensation Scheme (FSCS) has recovered £100m so far in compensation for the failing of life settlement firm.
The chairman of a new ombudsman service for financial services in the Channel Islands has been named as David Thomas, a lawyer who was appointed as the UK banking ombudsman in 1997 and subsequently became a principal ombudsman with the UK Financial Ombudsman Service.
The Financial Services Compensation Scheme (FSCS) has declared four IFA firms in default after they proved unable to compensate an increasing amount of SIPP complaints made against them.
The FSCS has identified overseas and cross-border failures as one of the main external risks that have led to its risk management and contingency planning reform.
The FSCS has announced that its total annual levy for 2014/15 will be less than predicted, but financial advisers will face an increase in charges.
The UK’s Financial Services Compensation Scheme says it is “continuing to investigate” claims against TailorMade Independent, a UK advisory firm, to determine its “involvement in advising its clients to transfer existing pensions into Self Invested Personal Pensions” that were then invested in risky products.
Hong Kong has moved closer to implementing a scheme that would compensate holders of insurance policies in the event that their insurer were to become insolvent.
AIFA has told IFAs not to rule out passporting their business into the UK from another EU state.
One of the biggest surprises for many Kaupthing, Singer & Friedlander Isle of Man depositors who lost access to their savings when the bank collapsed last October has been the lack of sympathy…
