The Financial Services Compensation Scheme (FSCS) has opened its door to claims against failed self-invested personal pension (SIPP) provider Berkeley Burke SIPP Administration (BBSA).
In an update on its website published on Wednesday (1 April), the lifeboat fund revealed it had determined there were valid claims against the troubled SIPP provider, and it would pass claims it had already received to its processing team. Last November, PA revealed the FSCS had already received more than 700 claims against BBSA. Berkeley Burke fell into administration in September 2019 following a lengthy court battle. At the time, the firm's administrators RSM Restructuring Advisory projected the business was facing potential claim liabilities from clients of £158m or more. The em...
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