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FSCS chief executive Caroline Rainbird has revealed that the major factors pushing up the FSCS levy have been the surge in claims against Self-Invested Personal Pension (SIPP) operators and a rising trend of pensions-related claims.

The Financial Conduct Authority expects a significant number of smaller regulated firms to fail over the next few months.

The FCA has launched High Court proceedings against a company and two individuals over alleged links to care home investments which saw investors lose more than £30m in a UCIS.

Younger clients are demanding technological improvements from SIPP providers according to new research.

The Financial Ombudsman Service has reported a sharp rise in SIPP complaints with 821 new complaints about SIPPs between July and September compared to 636 in the previous quarter.

The Financial Services Compensation Scheme has declared 45 firms in default between May and October including two signifcant SIPP providers and dozens of financial advice firms. 

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