Displaying items by tag: compensation
Pension transfer compensation is falling says OAC
New data from actuarial consultancy OAC suggests that pension savers submitting a complaint about pension transfer advice would now receive just £12,000 in compensation, about half the amount they would have received at the beginning of the year and well below the levels of two years ago.
SIPP adviser declared as failed
The Financial Services Compensation scheme has declared two financial advice firms as failed including a firm which provided advice on SIPPs.
FSCS declares SIPP-connected EU firm as failed
The FSCS has declared a Portuguese financial firm involved in the UK SIPP market in breach of its regulatory permissions as failed.
FSCS to meet admin costs of Hartley Pensions collapse
The Financial Services Compensation Scheme has said that it will pay the exit and administration charge (EAC) that the joint administrators propose to levy on Hartley Pensions Limited (HPL) customers, despite earlier saying that it could not.
Cheshire pension adviser is 6th failed firm this month
Macclesfield-based pension adviser The Chambers Partnership Ltd (FRN 495472) has been declared in default by the FSCS, opening the door to at least one compensation claim.
FSCS could face £124m bill over Rowanmoor failure
The Financial Services Compensation Scheme faces a payout of up to £124m after declaring collapsed SIPP and SSAS firm Rowanmoor as failed.
FSCS declares ISA and bond provider in default
The Financial Services Compensation Scheme has declared Cavendish Incorporated Ltd (FRN: 942176) as in default, opening the door for consumer claims against the firm.
FSCS probes BSPS adviser Prism
The Financial Services Compensation Scheme has launched an investigation into Newport-based Prism Independent Financial Advisers Ltd (FRN: 515431).
FOS to raise compensation limit to £415,000
The consumer complaints body the Financial Ombudsman Service is to increase its maximum compensation award from £375,000 to £415,00 from 1 April.
13 firms declared in default by FSCS
The Financial Services Compensation Scheme (FSCS) has today declared 13 firms in default - most of them adviser businesses - opening the door to clients claiming compensation.