The Financial Conduct Authority (FCA) has had its attempt to ban a director of failed investment firm Catalyst rejected.
Fines totalling half a million pounds levelled against the former CEO and a director of failed traded life settlement investment firm Catalyst have been upheld.
The Financial Services Compensation Scheme (FSCS) expects to pay out £60m in claims against failed ARM bonds distributor Catalyst Investment Group this year.
Investors who put money into failed life bond scheme Catalyst via their Standard Life self-invested personal pension (SIPP) have been told they have longer to wait before finding out if they are eligible for compensation.
Most types of financial services firms will pay a lower than expected Financial Services Compensation Scheme (FSCS) levy for 2014-2015 after it cut its bill by £37m, but investment advisers face another hike in costs.
The Financial Services Compensation Scheme (FSCS) will start inviting claims against Catalyst Investment group from investors in the ARM Asset Backed Securities life settlements fund by the end of March.
The Financial Services Compensation Scheme (FSCS) said it is finalising the claims process for ARM investors with claims against Catalyst Investment Group, and hopes to start inviting claims in early 2014.