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).

SIPP provider DAC Pensions - which had more than 600 clients and nearly £27m in assets under administration - has been declared in default by the FSCS, opening the door to compensation claims.

The Financial Services Compensation Scheme has declared Cardiff-based pension firm The London Trading Company (UK) Ltd (FRN: 678985) in default.

The Financial Services Compensation Scheme has declared four more firms in default, two with links to the British Steel Pension Scheme (BSPS).

The  Financial Services Compensation Scheme (FSCS) has today declared 13 firms in default - most of them adviser businesses - opening the door to clients claiming compensation.

The Financial Services Compensation Scheme has declared five pension advice firms as failed this week - four of them for pension transfer advice complaints.

The Financial Services Compensation Scheme has warned that more complex cases - particularly related to SIPPs and pension transfers - will push up its costs.

The Financial Services Compensation Scheme has declared in default its fifth financial adviser firm this month.