IFA warns Keydata victims 'don't set hopes' on FSCS challenge

Andrew Swallow says demands from the Keydata Victims Action Group for a review into the FSCS's decision not to pay out to investors in non-ISA Keydata products SIB1-3 are "laudable in principle". But he cautions investors against "getting their hopes up" and for IFAs to remember who pays the bill if the challenge is successful. "A jaundiced person might suggest the only people who will get any money out of this will be the lawyers," he says. Last month, the FSCS said it "anticipates" only Keydata investors who invested money via ISAs will be eligible for compensation. The FSCS s...