Compensation
United Kingdom | 27 Apr 15
Clients look for compensation after mis-selling wealth manager goes bust
A Scottish-based wealth management firm has gone bust after it was unable to pay back clients who were mis-sold high risk investments, and customers are now turning to the Financial Services Compensation Scheme to get their money back.
SIPP holders can now claim full losses
UK consumers who suffered investment losses after being advised to transfer funds into a self-invested personal pension (SIPP) can now claim compensation for the value of their investment.
IFAs pay 52m for Keydata failings
Financial advisers have so far paid £52m in damages for recommending products from failed life settlement provider, Keydata Investment Services.
DeVere pays 190k for misselling
A financial adviser has won a long-standing battle against deVere UK to return £190,000 to his clients after the multi-national advisory firm mis-sold high-risk products.
Tax & Regulation | 19 Jan 15
FSCS proposes cut in running costs levy
The UKs financial regulators have proposed a £5.5m ($8.3m, 7.2m) decrease in the Financial Services Compensation Schemes (FSCS) running costs.