FSCS receives 733 Berkeley Burke SIPP Administration claims

The lifeboat fund told PA it was in the early stages of its investigations of the firm and could not say how much it expects to pay in compensation. However, the firm's administrators RSM Restructuring Advisory projected the business was facing potential claim liabilities from clients of £158m or more. If RSM's claims liability figure is correct, BBSA will singlehandedly cost the FSCS more than the total it paid for all SIPP-related claims in its 2018/18 financial year, which stood at £123m. The FSCS said the claims would not immediately be passed to its claim processing team because ...