Investors in some Keydata structured plans who chose not to ‘tick the ISA box' still need clarification on their rights to claim for compensation, a victims' support group argues.
Keydata, placed in administration in June, was declared in default by the Financial Services Compensation Scheme (FSCS) earlier this month, meaning affected customers could begin making claims. But while KeydataVictims says it welcomes the decision by the FSCS, it says only those customers who invested in some of the products in an ISA wrapper know where they stand. "The announcement is not all that it seems and fails to address the majority of the cash invested that has been lost," it says. "The announcement will be of comfort to those who invested in Secure Income Bonds (SIBs) 1-...
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