Phoenixing cases referred to FCA total 136

FSCS referred 19

Hannah Godfrey
clock • 1 min read

A total of 136 potential phoenixing cases have been referred to the Financial Conduct Authority (FCA) since regulatory bodies came together to work to stamp out the practice.

In the Financial Services Compensation Scheme's (FSCS) 2020/21 plan and budget, chief executive Caroline Rainbird revealed the FSCS's claim handlers picked up 19 potential cases of phoenixing, which it had shared with the FCA, along with 117 others shared by other regulatory entities. The FSCS is working in partnership with the FCA, the Financial Ombudsman Service, the Insolvency Service and the Accountant in Bankruptcy as part of the Financial Services Regulatory Partners Phoenixing Group. The parties work together sharing data regularly to attempt to prevent phoenixing - the practic...

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

Private markets push meets adviser pragmatism: 'Real shift will come when advisers are empowered, not pressured'

Private markets push meets adviser pragmatism: 'Real shift will come when advisers are empowered, not pressured'

Higher proof-of-value demands and operational challenges keep private markets on margins of UK advice portfolios

Sahar Nazir
clock 19 December 2025 • 9 min read
Feel Good Friday: Tyndall Partnerships supports charity drive delivering Christmas aid to over 500 families

Feel Good Friday: Tyndall Partnerships supports charity drive delivering Christmas aid to over 500 families

Business development exec Lawrence Patrick joined charity The Mehiel Foundation

Professional Adviser
clock 19 December 2025 • 1 min read
Why human connection remains central in a digitally enabled advice sector

Why human connection remains central in a digitally enabled advice sector

'It is clear that the sector is moving through a significant period of transformation'

Tim Riseborough
clock 17 December 2025 • 3 min read