The Financial Services Compensation Scheme (FSCS) has begun processing about 150 individual claims related to advice to invest in tax 'mitigation' schemes after being given the green light by lawyers.
Chancellor George Osborne will deliver his Autumn Statement alongside the government's spending review on 25 November.
Introducing a long-stop to financial advice liability is the only way a properly functioning mass-market model can develop, MPs have been told.
Fund manager Octopus Investments is launching an Adviser Academy, an online learning portal for tax-efficient investing.
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A new survey has suggested the real reasons just one in five of the over-55s - and just 13% of men - are willing to pay for financial advice.
The amount of tax the government has collected from people breaching the lifetime pension allowance (LTA) has risen by 276% since George Osborne became Chancellor.