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...
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