FSCS still unsure on Lifemark compensation level

In an update for customers holding investments in the Luxembourg-based company, the FSCS says it is satisfied the marketing materials produced by Keydata to promote the products failed to comply with FSA rules. "This means that Keydata may owe a legal liability to investors in these products, allowing us to pay compensation to anyone who is eligible under the FSCS's compensation rules," it says. The products affected by the announcement include: the Defined Income Plan issues 1-8, the Income Plan issues 1-14, the Secure Income Bond issue 4 and the Secure Income Plan 1-14. However, ...