Former Milton Keynes financial adviser firm Mike Norris Financial Services (FRN 542126) has been declared as failed by the Financial Services Compensation Scheme.

The FSCS has declared three financial adviser firms as failed, opening the door to compensation claims from ex-clients.

The Financial Services Compensation Scheme is investigating two failed adviser firms, including one hit with claims over SIPP advice.

The majority of the £403m of claims to the Financial Services Compensation Scheme in 2022/23 were due to investment and pension advice as well as SIPP operator failures.

The Financial Services Compensation Scheme has declared in default a Sipp adviser firm and three other advice firms.

The Financial Services Compensation Scheme has launched an investigation into Newport-based Niche Independent Financial Advisers Ltd (FRN: 472635).

The Financial Services Compensation Scheme has cut its 2023/24 levy for the Life Distribution & Investment Intermediation class - which includes financial advisers -by £4.4m.

The Financial Services Compensation Scheme has opened its doors to claims against two firms passporting into the UK to advise on pension transfers.

The Financial Services Compensation Scheme has launched an investigation into Newport-based Prism Independent Financial Advisers Ltd (FRN: 515431).

The Financial Services Compensation Scheme has begun an investigation into Chester-based pension adviser Arrow Financial Services UK Ltd, trading as Arrow Asset Management (FRN 528826).