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FSCS

The FSCS yesterday (1 April) declared Berkeley Burke SIPP Administration Ltd a failed firm and opened the door to claims that could eventually top £150m.

The Financial Services Compensation Scheme (FSCS) has declared 15 failed regulated firms in default during February 2020 including SIPP firm GPC.

Law firm Shearman & Sterling has applied for a judicial review into the FSCS’s handling of compensation for victims of the £236m London Capital & Finance mini-bond firm.

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.
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