Displaying items by tag: compensation
FSCS set to shut £115m LCF compensation scheme
The FSCS is to close its compensation scheme for victims of the failed £237m mini-bond provider London Capital & Finance (LCF).
FSCS declares 2 advice firms as failed
Two advice firms have been declared failed by the Financial Services Compensation Scheme this week, including a Financial Planning firm which has 25 pension transfer claims against it, including BSPS cases.
FSCS calls for increase to pension compensation limit
The Financial Services Compensation Scheme (FSCS) has called for the £85,000 compensation limit to be reviewed for pension claims.
Regulators consult on limiting FSCS management costs
The Financial Conduct Authority and Prudential Regulation Authority have launched a consultation on the management expenses levy limit for the Financial Services Compensation Scheme (FSCS).
FCA says SIPP claims a factor in compensation shake-up
The FCA has launched a major review of the funding of the Financial Services Compensation Scheme due to soaring costs, including rising SIPP claims.
Govt payouts near for LCF bondholder victims
All remaining eligible London Capital & Finance (LCF) bondholders will receive an offer of compensation from the Government’s compensation scheme by 20 April.
FSCS declares 11 firms in default including pension advisers
The Financial Services Compensation Scheme (FSCS) declared 11 firms in default in March, including several wealth managers and a firm involved in BSPS transers.
FCA sorry for failings as LCF victims get £120m payback
The FCA has apologised for its handing of the collapse of London Capital & Finance (LCF) and the Connaught Income Fund Series 1 and has set out its approach to assessing related complaints.
SIPP failures to push FSCS levy over £1bn
The FSCS warned today that its levy for the coming year will soar by a third to over £1bn with SIPPs and “complex” pensions cases behind a big chunk of the rise.
SIPP claims surge is fuelling FSCS levy rise - Rainbird
FSCS chief executive Caroline Rainbird has revealed that the major factors pushing up the FSCS levy have been the surge in claims against Self-Invested Personal Pension (SIPP) operators and a rising trend of pensions-related claims.