FSCS mulls compensation exception for British Steel workers

219 FSCS claims on Active Wealth

Hannah Godfrey
clock • 3 min read

The Financial Services Compensation Scheme (FSCS) has said it will "look afresh" at some aspects of the redress calculation method it applies to British Steel workers following a meeting in parliament.

On Thursday (22 November), a group of steelworkers visited Westminster Palace to meet with regulators and MPs to discuss the compensation they receive from the lifeboat fund. They were joined by their legal representative, Clarke Willmott solicitor Philippa Hann, and CHIVE advisers Echelon Wealthcare's Alastair Rush and Wingate Financial Planning's Alistair Cunningham. After the meeting, all of the parties involved - steelworkers, the FSCS, regulators and MPs Stephen Kinnock, Nick Smith and Tonia Antoniazzi - said they felt the talks had been "positive".  Speaking during the meeting, ...

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 Your profession

Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read
Advising silver splitters: Legal insight for older clients getting a divorce

Advising silver splitters: Legal insight for older clients getting a divorce

Why is divorce becoming more common in older clients?

Katharine Bundell
clock 15 December 2025 • 4 min read