compensation

The Financial Ombudsman Service (FOS) has reminded firms of its power to order compensation where it deems a business has misused a client's personal information.

Lawyers are urging investors who have been advised to invest in disputed tax avoidance schemes to take their financial advisers to court for compensation.

A presentation given by an IFA at a ‘money club' is set to cost the firm £45,000 in compensation after the Financial Ombudsman Service (FOS) ruled its slide show strayed into advice.

The Financial Services Compensation Scheme (FSCS) plans to collect a levy of £287m from firms in 2015-16, as it prepares for a rise in claims related to self-invested personal pensions (SIPPs).

The Financial Services Compensation Scheme (FSCS) is to start compensating investors in failed investment group Hartmann Capital.

A year on from the collapse of Lehman Brothers, providers of structured products backed by the bank say it will be years before their clients receive compensation.

Banks, building societies and credit unions will be asked to pay £406m as their initial contribution to the costs of the five bank defaults of 2008.

The FSA has been accused of betraying with-profits investors by allowing insurance companies to continue making compensation payments from inherited estates.

Consumers will be able to receive compensation within a week of a financial institution's collapse following the implementation of new rules from the FSA.

The Government has rejected renewed calls to provide compensation to Equitable Life policyholders who lost out when the insurer was forced to close to new business in 2001.