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.

The Financial Services Compensation Scheme (FSCS), the industry-funded safety net for consumers, has warned it is seeing a rise in more complex SIPP claims after it paid out a total of £423m in compensation in its 2023/24 year. 

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.