compensation

The Financial Services Authority has issued a briefing note on closed with-profit funds which attempts to dispel both the myths around holding a closed book policy and consumer calls for compensation payouts.

Government officials have a major confidence-building exercise to perform to build faith in the proposed Pension Protection Fund, suggests Scottish Equitable research.

An increase in the growing compensation culture is hitting UK businesses, costing them time and money, suggests research.

Guidance published by the Financial Ombudsman Service suggests compensation claims against the use of market value adjustments are only being awarded in cases where bad advice led with-profits investors to lose valuable income.

IFAs are a little hot under the collar this week as invoices from the FSA relating to their levies for the next year reveal annual payments covering the Financial Services Compensation Scheme will increase by up to 375%.

Updated Tuesday, 10.45am: FSCS requires additional compensation cost of £15m, and £5m to manage them

Equitable Life's board of directors is now in discussions with legal representatives to establish whether it has a case for compensation in the European courts against the UK regulatory regime.

New disputes have erupted between clients and IFA firms over endowment mortgage mis-selling compensation calculations, suggests the Financial Ombudsman service.

Consumers who fall into the Financial Services Compensation Scheme could receive a maximum potential compensation of £48,000 should a mortgage or insurance intermediary firm collapse - the same as a claim for an investment firm.

Treasury Secretary Ruth Kelly MP today received a rather tame grilling by the members of the Treasury Select Committee, as she was accused not only of trying to shift the blame for the Equitable Life debacle to someone else but for also suggesting the...