The Financial Services Compensation Scheme (FSCS) is probing a financial advice firm associated with the British Steel Pension Scheme (BSPS) scandal.
Newport-based Prism Independent Financial Advisers is under investigation with the lifeboat fund looking to find out whether it has been involved in any regulated activities. The firm was placed into solvent liquidation at the end of 2020 but has converted to a creditors voluntary liquidation this year. Prism is one of the companies associated with claims regarding the BSPS. This latest investigation follows numerous similar cases by the FSCS, mostly recently its investigations into Bristol-based Wealthmasters Financial Management and Birmingham firm Green Gem Financial in March.