FSCS

The Financial Services Compensation Scheme (FSCS) has hit investment advisers with a £105m levy for 2014/15, an increase of 34% on the last levy.

Investment advisers may contribute almost £15m towards the day-to-day running of the Financial Services Compensation Scheme (FSCS) in 2014-2015.

The Financial Services Compensation Scheme (FCSC) "continues to be challenged" by the complexity of some firm failures in the investment intermediation sector, its chief executive Mark Neale has remarked.

Sixteen advisory firms have been declared in default in the Financial Services Compensation Scheme's (FSCS) latest round-up of failed financial businesses.

The Financial Services Compensation Scheme (FSCS) has begun contacting clients of failed firm Tailormade, which was a major distributor of troubled overseas property company Harlequin Property.

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.

The advice community is likely to be billed a £30m interim levy early next year, mainly covering the cost of the Catalyst Investment group failure, which was declared in default in October.

The chief executive of the Financial Services Compensation Scheme (FSCS) is "sympathetic"to calculating the scheme's levy based on the risk posed by specific businesses.

The Financial Services Compensation Scheme (FSCS) has said it expects to raise a supplementary levy on investment advisers before the end of the current levy year, to make up for losses incurred by the failings of ARM bonds and their distributor Catalyst....

The Financial Services Compensation Scheme (FSCS) is expecting to make further payments to Keydata investors from Lifemark recoveries after reviewing the case.