FSCS

A Conservative peer has drawn parallels between the collapse of Arch cru and the Bernie Madoff scandal, stressing the need for the regulator to do more to protect consumers.

Advisers may be faced with an extra £33m in Financial Services Compensation Scheme (FSCS) levies as a result of firm failures caused by a proposed £100m FSA Arch cru redress scheme.

The Financial Services Compensation Scheme (FSCS) has more than doubled the annual levy for financial advisers for 2012/13, largely as a result of known claims relating to Arch Cru and MF Global.

The Financial Services Compensation Scheme (FSCS) has begun proceedings against more than 160 advisory firms it alleges mis-sold Lifemark-backed Keydata products.

A total of 162 firms have been included in proceedings launched by the Financial Services Compensation Scheme to claw back money paid out to investors in Lifemark-backed Keydata products.

The Financial Services Compensation Scheme (FSCS) is to levy life, pensions and investment advisers for an extra £38m, as it begins making part-payments to Arch cru investors with eligible claims against failed IFAs.

The Financial Services Compensation Scheme (FSCS) says it does not expect any major investment failures in the next financial year after setting another interim levy for financial advisers.

The Financial Services Compensation Scheme (FSCS) has confirmed a £60m interim levy for financial advisers and other investment intermediaries.

The Financial Services Compensation Scheme (FSCS) has begun the process of compensating MF Global customers, with private customers with individual accounts the first to receive application forms.

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