FSCS
Displaying items by tag: FSCS
Wednesday, 23 May 2018 14:30
FSCS: ‘We’re not here to punish defaulting firms’
The FSCS has defended itself against suggestions it takes a punitive, enforcement approach against those firms deemed in default.
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Thursday, 10 May 2018 11:28
PFS proposes Government levy solution to FSCS funding
The Personal Finance Society wants the Government to impose a ‘seven basis points’ levy on funds under management per year as a solution to FSCS funding problems.
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Tuesday, 17 April 2018 16:28
FSCS opens door to first BSPS compensation cases
The Financial Services Compensation Scheme has listed 11 failed advice firms it declared in default in March in a move which will mean some British Steel Pension Transfer clients being compensated.
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Wednesday, 24 January 2018 14:23
AMPS criticises FSCS ruling on SIPP defaults
AMPS, which trade association which represents most UK SIPP providers, has written to the FSCS to question its statements on three SIPP providers recently declared in default by the scheme.
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Friday, 19 January 2018 10:13
3 SIPP firms declared in default by FSCS
Three SIPP operators have been declared in default by the FSCS after 150 claims were received, the body announced today.
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Friday, 05 January 2018 11:47
SIPP claims force FSCS to add £23.9m extra levy
SIPP compensation claims above predictions have forced the Financial Services Compensation Scheme (FSCS) to ask financial advisers and providers to chip in an extra levy of £23.9m.
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Tuesday, 18 July 2017 10:05
3,600 pay outs for wrong 'risky' Sipp advice cost £105m
Nearly 3,600 consumers have been compensated for wrongly being advised to switch savings into ‘risky’ assets within SIPPs – at a cost of £105m.
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Monday, 03 April 2017 14:44
AMPS wary of product levy to fund the FSCS
The Association of Member-Directed Pension Schemes (AMPS), the body representing SIPP operators and SSAS practitioners, has voiced concerns about introducing a product levy to fund the FSCS and says the role of advice in causing later claims needs to be studied.
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Monday, 16 January 2017 11:58
Advisers get £36m extra FSCS bill for Sipps and £50m refund
Advisers categorised as pensions and life intermediaries face paying an extra £36m to the FSCS next year due to rising cost of Sipps.
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Friday, 02 December 2016 12:08
Extra FSCS levy looms due to growing claims linked to Sipps
Advisers have been warned they face an extra FSCS levy next year as a result of rapidly growing claims related to Sipps.
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