Failed SIPP operator Intelligent Money has been declared in default today by the Financial Services Compensation Scheme, opening the door to ex-clients with valid claims to receive compensation.

A Shropshire-based pension adviser - an appointed rep of failed firm Tenet Connect Limited - has itself been declared as failed by the Financial Services Compensation Scheme, opening the door to compensation claims.

A Midlands-based pension adviser firm has failed and been declared in default by the Financial Services Compensation Scheme, the industry compensation safety-net.

A financial adviser firm - Chesterton Grant Limited of Yorkshire - has been declared as failed by the Financial Services Compensation Scheme after a complaint about SIPP advice against the firm was upheld.

Most of failed Sipp firm PSG SIPP Ltd (PSGS), has been sold to Alltrust Services Limited with one part, Unity SIPP, sold to London & Colonial.

The Financial Services Compensation Scheme has declared two pension adviser firms as failed.

The Financial Services Compensation Scheme has declared BSPS-linked adviser firm Mark Peter Houlbrook (FRN: 498168) in default over pension transfer advice, opening the door to compensation for ex-clients with valid claims.

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 Financial Services Compensation Scheme (FSCS), the safety net scheme for consumers, paid out £423m in compensation to customers during its 2023/24 year, £20m higher than the previous year.