FSCS investigates two financial services firms over regulated activities

FSCS is considering claims against one firm in London and another in Devon

Sahar Nazir
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) is probing two failed financial firms for continuing to carry out certain regulated activities.

The FSCS said it is considering customers' claims against Irish advice firm Wellington Court Financial Services, which closed its UK establishment in Devon on 31 December 2021. The firm was incorporated in Ireland and passported into the UK under the Insurance Distribution Directive, according to the FSCS. The FSCS has been working with the Financial Conduct Authority (FCA) to investigate Wellington Court's activities. The FCA granted Wellington Court permission to carry out certain regulated activities including advising on investments and pension transfers on 19 December 2016, be...

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

Advisers urged to prioritise mindset over products in retirement planning

Advisers urged to prioritise mindset over products in retirement planning

Defaqto conference panellists urge shift to service-led, goal-driven strategies

Sahar Nazir
clock 02 May 2025 • 1 min read
PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

‘Are you really listening to your clients?’

Sahar Nazir
clock 02 May 2025 • 2 min read
PA Asks: Should the cash ISA limit be cut?

PA Asks: Should the cash ISA limit be cut?

Plus, which business leader inspires you, redundancy cover and NFTs

Professional Adviser
clock 02 May 2025 • 1 min read