The FSCS says it can now quantify claims against Keydata-backer Lifemark and will start paying out compensation to investors from next month.
Following an investigation into the valuation of the Lifemark bonds, the FSCS says it is now satisfied these bonds have no value for the FSCS in quantifying the claims of individual Lifemark investors. Compensation payable to eligible investors will not, therefore, be reduced to take account of an amount representing a value for the bonds. The FSCS says it can now quantify claims and pay compensation to those investors who are eligible under its rules, subject to the compensation limit. The limit for investment claims against Keydata is £48,000 (100% of the first £30,000 of financi...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes