Adviser Alliance has donated £500 towards a judicial review into the FSCS Keydata levy - even though the lobby group thinks the legal action has little chance of success.
The move follows a High Court ruling giving law firm Regulatory Legal the go-ahead to launch its judicial review into the FSCS's £58m compensation bill to cover the failure of investment ‘provider' Keydata and two stockbrokers. But despite the pledge of support, the anti-RDR group has grave misgivings about the action and thinks the hearing - expected in the autumn if enough funds are raised - will likely fail. Adviser Alliance has until now refused to lend its support to the legal action, deciding against signing up to Regulatory Legal's fundraising campaign. Whilst the not-for-pr...
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