Pension group enters administration at request of UK regulator
FCA seeks deal to transfer client book to another Sipp operator
FSCS
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Two IFA firms fail
They also provided pension transfer advice to British Steel members
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UK financial advice firm fails
Lifeboat scheme has already received 34 claims related to pension transfers
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UK investors received £584m in compensation in 2021-22
Lifeboat scheme paid out £114m to 9,000 mini-bond victims in six months
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UK advice firm enters liquidation
Two months after receiving asset retention order from the regulator
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FSCS investigating advice firm with Portugal links
Company advised on and arranged pension transfers into the Trafalgar Multi Asset Fund
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Alarmed FSCS says bad advice responsible for 80% of claims
Tackling the problem can ‘sustainably reduce the levy over the long term’
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Advice firm under investigation over pension transfers
It failed to pay compensation as ordered by the Financial Ombudsman Service
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FSCS cap saw investors lose £1bn in compensation
Pension advice claims made up almost half of the total
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UK lifeboat scheme cuts 2022/23 levy to £625m
But compensation payouts expected to be greater than last year
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Investment research ‘time consuming’ and ‘too complicated, say Brits
But FCA tells consumers to make sure they ‘do their homework’
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UK wealth manager enters liquidation
As Welsh advice firm fails