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

The FCA has imposed restrictions on a financial adviser firm based in South Wales to prevent it from making unsolicited offers of £50 in redress to BSPS members.

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

A legal challenge against the Financial Conduct Authority’s decision to set up a redress scheme for former British Steel Pension Scheme (BSPS) members has been scrapped.

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

The Financial Conduct Authority said today that its expects more than 1,000 British Steel Pension Scheme (BSPS) members hit by poor pension transfer advice to start receiving redress calculations in 2023.

Advice firm Bartholomew Financial Limited has been declared in default by the Financial Services Compensation Scheme (FSCS) whilst facing 12 claims.

Better Retirement Group Ltd, a pension adviser which has used nearly 40 trading names including SIPP Club, has today been placed under investigation by the Financial Services Compensation Scheme.

Two advice firms have been declared failed by the Financial Services Compensation Scheme this week, including a Financial Planning firm which has 25 pension transfer claims against it, including BSPS cases.

New emergency asset retention rules from the Financial Conduct Authority (FCA) have been applied to 101 firms who provided pension transfer advice for former British Steel Pension Scheme (BSPS) members.