Chase de Vere settles with FSCS over Keydata sales

National advice firm Chase de Vere has reached a settlement with the Financial Services Compensation Scheme (FSCS) for an undisclosed sum to deal with claims of poor advice in relation to its sale of Keydata products.

Chase de Vere was one of six advice firms that made up a group of lead defendants the FSCS was pursuing to recover the hundreds of millions of pounds it has paid out in compensation to investors who lost money when Keydata collapsed in 2009. The advice firm's decision to settle the claims out of court means now all of the original six lead defendants have paid up to avoid lengthy legal battles. In a statement, Chase de Vere said: "Chase de Vere and the Financial Services Compensation Scheme (FSCS) have reached an out of court settlement, with no admission of liability, in relation to ...