The Financial Services Compensation Scheme has opened an investigation into failed DFM and SSAS investment firm Central Markets Investment Management (CMIM) Limited.

The Financial Services Compensation Scheme has declared BSPS-linked firm Green Gem Financial Ltd (FRN: 400488) in default over pension transfer advice, opening the door to compensation for ex-clients with valid claims.

The aggregate surplus of DB pension schemes increased to £475.5bn at the end of July, according to the latest Pension Protection Fund (PPF) 7800 Index.

After several delays, platform and major SIPP provider Hargreaves Lansdown (HL) has today accepted a £5.4bn private-equity backed consortium offer for the company.

Government and pensions regulators could force 'poor value' workplace pension schemes to close in a major shake up which could eventually be extended to SIPPs, according to one provider.