FSCS chief curses 'complexity' of some advised cases

Citing the recent collapse of Catalyst, which promoted funds backed by ARM Asset Backed Securities SA, as an example of a complex case, Neale said the Scheme often finds it difficult to determine whether investors' losses are the result of bad advice or another factor. "[We continue] to be challenged by the complexity of many failures in the investment intermediation sector," Neale wrote in his latest Perspectives newsletter. "We turn round 90% of non-deposit claims within our service standards - three months for PPI [payment protection insurance] claims, six months for most others - ...