Splits cap firms to agree £190m compensation - papers 13th Dec

Professional Adviser
clock

The Financial Services Authority is expected to extract around £190m in compensation for investors who incurred losses in split-capital investment trusts, the Daily Telegraph reported over the weekend.

According to the Telegraph, Aberdeen Asset Management will contribute £75m but the final compensation amount is still much lower than the £325m the FSA had been pushing for in June. ABN Amro, UBS and HSBC are expected to settle with the FSA by making payments of £10m each while 17 other firms – including Aviva, Jupiter, F&C Asset Management, Britannic Investment Managers, Exeter and Gartmore – will contribute more than £150m. Broker Collins Stewart will also pay £10m; most of the other firms are expected to pay between £5m and £6m each. That said, the Telegraph says BFS and BC, hav...

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

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Women in Financial Advice Awards 2026: Nominations close today!

Women in Financial Advice Awards 2026: Nominations close today!

Awards to be held at Hilton Bankside in London

Professional Adviser
clock 08 May 2026 • 1 min read
'Quality is the golden thread' – why Benchmark won Best Advice Network

'Quality is the golden thread' – why Benchmark won Best Advice Network

PA Awards 2026 winner shares secrets to success

Professional Adviser
clock 29 April 2026 • 3 min read
Editor's message: When new beginnings come together

Editor's message: When new beginnings come together

Professional Adviser will be back on Tuesday

Jen Frost
clock 02 April 2026 • 1 min read