Lawyer tells judge Lifemark products 'not high risk'

clock

A barrister representing advisers fighting the Financial Services Compensation Scheme (FSCS) over Lifemark compensation has insisted the products were not high risk.

More than 500 IFAs are being pursued by the FSCS for mis-selling Lifemark-backed Keydata products, with parallel action in relation to SLS-backed products. At a case management conference (CMC) this morning at the Royal Courts of Justice, Mr Justice Simon gave the order for the defendants to file their letters of response to the claims by 14 December, addressing the generic issues. With the original claims letters sent out in April, the judge questioned why it was taking so long for the responses and defences to be filed. However, Barabara Dohmann QC, taking instruction from Fishbu...

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 Regulation

FCA updates incident and third-party reporting rules with cyber-attacks on the up

FCA updates incident and third-party reporting rules with cyber-attacks on the up

Regulator realises attacks are becoming ‘more frequent and more sophisticated’

Isabel Baxter
clock 18 March 2026 • 2 min read
FCA publishes pensions regulatory priorities report

FCA publishes pensions regulatory priorities report

Regulator sets out key priorities amid significant industry transformation

Martin Richmond
clock 12 March 2026 • 4 min read
Treasury proposals spark AR liability fears

Treasury proposals spark AR liability fears

Not expected to have ‘material’ impact on PII market but creates more risk

Isabel Baxter
clock 11 March 2026 • 4 min read