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FSCS

Soaring SIPP claims have forced the Financial Services Compensation Scheme to increase its levy for 2020/21 by £87m to £635m. 

The Financial Services Compensation Scheme has warned that there is a ‘high risk’ of a supplementary £46m levy on advisers and providers in the coming due in part to rising pension and SIPP claims.

The Financial Services Compensation Scheme (FSCS) has received 733 claims against Berkeley Burke Sipp Administration Limited (BBSAL).
Defending itself against a rising toll of claims has forced Berkeley Burke SIPP Administration Limited (BBSAL) into administration, with the book of business sold this week to Hartley Pensions Limited.

The Financial Services Compensation Scheme (FSCS) is now open to claims against Berkeley Burke SIPP Administration Limited (BBSAL).

The Financial Services Compensation Scheme (FSCS) paid a total of £473m in compensation to 425,760 customers of failed firms during 2018/19, it has been revealed.
The Financial Services Compensation Scheme (FSCS) has today declared The Lifetime SIPP Company Limited in default.
The Financial Services Compensation Scheme (FSCS) is now accepting claims against GPC SIPP Limited (GPC) which slumped into administration this week.
A rising number of SIPP complaints is creating upward pressure on the Financial Services Compensation Scheme levy, the body has warned.
The Financial Services Compensation Scheme (FSCS) has today revealed that former RBS and ABN AMRO executive, Caroline Rainbird, will become its next CEO.
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