Displaying items by tag: FSCS
Retirees drawn to riskier investments warns FSCS
The Financial Services Compensation Scheme has warned that retirees are being tempted to put money into investment products claiming to offer high returns due to the prolonged low interest savings environment.
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.
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.
2 SIPP providers among 45 firms in default
The Financial Services Compensation Scheme has declared 45 firms in default between May and October including two signifcant SIPP providers and dozens of financial advice firms.
FSCS accepting claims against Guinness Mahon SIPP
The FSCS is working through nearly 1,000 potential claims against SIPP operator Guinness Mahon which collapsed in February.
LCF pay-outs reach £38.1m as claims process drags on
he Financial Services Compensation Scheme has paid out just over £38.1m in compensation to LCF customers, a substantial increase from the £20m paid out by August when the body increased the team allocated to the case by nearly 80%.
Regulators warn about German property SIPP probe
The Financial Conduct Authority, the Financial Services Compensation Scheme and the Financial Ombudsman Service have warned Financial Planners to take action on any SIPP or SSAS investments in the German Property Group.
FSCS reports 4,100 'extra' SIPP and pension claims
The Financial Services Compensation Scheme received 4,100 extra SIPP and pensions claims 2019/20 than it expected, resulting in increased cost of £3.9m.