FSCS

Advice to invest in a troubled unregulated overseas property scheme has helped push 24 firms over into failure, the Financial Services Compensation Scheme (FSCS) has said.

The Financial Services Compensation Scheme (FSCS) plans to collect a levy of £287m from firms in 2015-16, as it prepares for a rise in claims related to self-invested personal pensions (SIPPs).

Investors who lost money in failed property scheme Arck may finally find out if they will receive compensation when the Financial Services Compensation Scheme (FSCS) issues an update in March.

The Financial Services Compensation Scheme (FSCS) is to start compensating investors in failed investment group Hartmann Capital.

The Financial Ombudsman Service (FOS) is to make further cuts to its operating budget in the coming financial year and has frozen its levy at £23.3m.

The Financial Services Compensation Scheme (FSCS) has recovered £100m from the estate of failed traded life settlement firm Keydata, and the advisers who mis-sold it, and will rebate half the sum to fund management levy payers.

The Financial Services Compensation Scheme (FSCS) expects to pay out £60m in claims against failed ARM bonds distributor Catalyst Investment Group this year.

Investment Week sister title Professional Adviser has obtained the latest list of advice firms being pursued as lead defendants by the Financial Services Compensation Scheme (FSCS) in relation to Keydata sales.

A further 12 advice firms have been declared in default by the Financial Services Compensation Scheme (FSCS).

The Financial Services Compensation Scheme (FSCS) has so far paid out £21.2m in claims related to the collapse of adviser network Alpha 2 Omega (A2O) after finding widespread mis-selling of unregulated collective investment schemes (UCIS).