FSCS

The IMA has issued a series of alternatives to the FSA's "perverse" proposed changes to the Financial Services Compensation Scheme (FSCS), having previously criticised its unfair treatment of asset managers.

The Financial Services Authority (FSA) believes its proposed rules on the promotion and sales of unregulated collective investment schemes (UCIS) could lead to a reduction in Financial Services Compensation Scheme (FSCS) costs for advisers.

The Financial Services Compensation Scheme (FSCS) has declared 21 investments firms in default, including a number of independent financial advisers and mortgage brokers.

The Financial Services Consumer Panel (FSCP) is urging the Financial Services Authority (FSA) to seek to extend the deadline for a £54m Arch cru payment scheme involving Capita, BNY Mellon and HSBC.

The IMA has attacked the FSA's proposed changes for the funding of the Financial Services Compensation Scheme saying fund management groups would be unfairly contributing for claims for mis-sold insurance or structured products.

The Financial Services Authority (FSA) has set out proposed changes to the funding of the Financial Services Compensation Scheme (FSCS).

The Association of Independent Financial Advisers (AIFA) has set out plans to the Treasury on how regulatory fines could be used to transition the Financial Services Compensation Scheme (FSCS) to a pre-funded system.

The Financial Services Compensation Scheme (FSCS) has reduced the amount of compensation it is planning to collect from AWD Chase De Vere over its sale of Lifemark-backed Keydata investments, the national IFA has said.

The estimated value of the remaining assets within the Arch Cru funds has fallen again, reducing the amount of returns to investors being offered by Capita Financial Managers, the authorised corporate director.

Industry trade bodies have criticised proposed changes to the Financial Services Compensation Scheme (FSCS) sourcebook, with the IMA calling for a "complete overhaul" of the scheme.