Pimfa calls for supervision of unregulated financial promotions
Trade body argues it would improve market and reduce burden on lifeboat scheme
Trade body argues it would improve market and reduce burden on lifeboat scheme
Watchdog’s compensation proposals are ‘intellectually dishonest and morally questionable’
As UK court greenlights legal action against lifeboat scheme
But assessment process likely to go on until the end of 2020
UK lifeboat scheme has issued 844 decisions, but there are lots more to go
They have started a petition to get the products regulated and victims compensated
While administrators force company’s marketing unit into insolvency to recoup losses
As mini-bond scandal looms over the industry and the watchdog
But process will take longer than expected as it recouped additional evidence
After UK lifeboat scheme caused ‘confusion’ for mini-bond victims who thought it was a scam
Company only had £906 in its bank account when it entered administration
Estimated £44m will be used just to compensate mini-bonds victims