The Financial Services Compensation Scheme (FSCS) has withdrawn the declaration of default placed on the Cambridge-based financial advice firm IFG Financial Services (IFG) earlier this month.
The lifeboat fund declared the firm in default on 2 November, after it received a single valid claim that triggered the declaration. In the latest update, the FSCS said that it "subsequently become aware that liability for any claims against IFG may sit with another firm that is still in business". The FSCS said it "is currently speaking to this firm to establish where customers should direct their IFG claims". No further detail was provided of the other mentioned firm, that could be held liable. The FSCS added that it it has withdrawn the declaration of default and amended its ...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- 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.
