Displaying items by tag: compensation
FCA says SIPP claims a factor in compensation shake-up
The FCA has launched a major review of the funding of the Financial Services Compensation Scheme due to soaring costs, including rising SIPP claims.
Govt payouts near for LCF bondholder victims
All remaining eligible London Capital & Finance (LCF) bondholders will receive an offer of compensation from the Government’s compensation scheme by 20 April.
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.
FCA sorry for failings as LCF victims get £120m payback
The FCA has apologised for its handing of the collapse of London Capital & Finance (LCF) and the Connaught Income Fund Series 1 and has set out its approach to assessing related complaints.
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.
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.
FSCS opens door to Berkeley Burke claims
The FSCS yesterday (1 April) declared Berkeley Burke SIPP Administration Ltd a failed firm and opened the door to claims that could eventually top £150m.
FSCS levy up by £87m as SIPP claims soar
Soaring SIPP claims have forced the Financial Services Compensation Scheme to increase its levy for 2020/21 by £87m to £635m.
FSCS receives 733 claims against Berkeley Burke
