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

M&A outlook: FCA's consolidation review beginning to 'play out in real time'

M&A outlook: FCA's consolidation review beginning to 'play out in real time'

‘2025 has really been the year the FCA stepped up’

Isabel Baxter
clock 05 January 2026 • 5 min read
Debt nation: Why financial education must become a national priority

Debt nation: Why financial education must become a national priority

Financial literacy isn't a 'nice-to-have' - it's a national resilience strategy

Viktor Prokopenya
clock 05 January 2026 • 3 min read
Andrew Goodwin: Financial advice in the age of bewilderment

Andrew Goodwin: Financial advice in the age of bewilderment

'The fallout from the Budget could mark a genuine sea change'

Andrew Goodwin
clock 05 January 2026 • 4 min read