Two pension adviser firms have been declared as failed by the Financial Services Compensation Scheme with one being hit with a successful SIPP claim.

The Financial Services Compensation Scheme (FSCS) has awarded the contract for its core claims handling to professional services giant PwC.

The UK’s financial regulators say working together has improved outcomes, particularly in relation to failings by SIPPs operators, the British Steel Pension Scheme scandal and the introduction of Consumer Duty.

The Financial Services Compensation scheme has declared City of London-based adviser firm Alexander David Securities Ltd (FRN 469150) in default.

The Financial Services Compensation Scheme (FSCS) has declared 12 regulated firms in default in February and March including major SIPP provider Hartley Pensions.

The Financial Services Compensation Scheme (FSCS) has declared Glasgow-based Atlantic Investors (Scotland) Ltd (FRN: 182565) as failed.

Redditch-based Go IFA Ltd has become the fifth advice firm this week to be declared as failed or under investigation by the FSCS.

The Financial Services Compensation Scheme (FSCS) has declared Manchester-based Pension Advice Specialists Ltd (FRN: 792927) as failed.

The Financial Services Compensation scheme has today declared three financial advice firms as failed, including two SIPP-related and one linked to BSPS.

The Financial Services Compensation Scheme (FSCS) has declared SIPP and SSAS provider Hartley Pensions in default.