Two UK-based firms fail
With the FSCS receiving claims related to investment and secured bonds
FSCS
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UK-based financial advice firm fails
Lifeboat scheme has received five claims related to pension transfers and Sipps
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UK IFA firm fails
With the FSCS receiving claims in regard to the British Steel Pension Scheme
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Seven firms declared in default in last two months
This means firms have gone out of business and are unable to meet any claim themselves
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Two UK IFA firms fail
With the FSCS receiving claims related to pension advice transfers for both
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£60m fall in FSCS compensation costs for LDII class
Lifeboat scheme said this was due to reduction in redress over Sipp products
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Two UK financial advice firms fail
After both companies were investigated by the FSCS earlier this year
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IFA banned over ‘unsuitable’ DB pension transfer advice
He has been told to pay £850,000 to the FSCS to compensate customers
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UK-based financial advice firm declared in default
With the FSCS receiving eight claims against the company
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19 million Brits over 50 will not consider annuities
Less than a third have or would contemplate buying one
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10 firms hit with restrictions as FCA continues AR crackdown
Appointed representatives accounted for more than half of the total value of recent claims to the FSCS
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UK-based financial advice firm fails
As the lifeboat scheme confirms four companies were declared in default between April and May 2023