The Financial Services Compensation Scheme (FSCS) has said its investigation into the viability of investor claims against major Harlequin distributor TailorMade Independent is ongoing.
The scheme is considering the firm's involvement in advising its clients to transfer existing pensions to self-invested personal pensions (SIPP), which were then invested in schemes including Harlequin overseas hotels and resorts. Tailormade, which has an advice arm, an alternative investment business and a SIPP, entered creditors' voluntary liquidation in October last year because it could not finance redress payments to clients. But the business, which stopped taking new money into Harlequin in January 2013 following an alert about the company by the financial services regulator, ha...
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