FSCS

As the Financial Services Compensation Scheme celebrates its tenth anniversary, what have been its successes and failings, and what do advisers make of the organisation?

The British Insurance Brokers' Association (Biba) has called on insurers and regulators to take more responsibility for their products if they want them sold by non-professional brokers.

Leeds-based IFA Lampott Ltd must defend a £2m claim for damages at the High Court, after it invested more than a third of a company pension scheme in failed life settlement firm Keydata.

The Financial Services Authority (FSA) has appointed the group finance director of Rathbones to a non-executive role on board of the Financial Services Compensation Scheme (FSCS).

Sanlam Private Wealth has written to lawyers for the Financial Services Compensation Scheme to dispute their claims that it gave negligent advice on Keydata products, saying it has never advised on the investments.

The uncomfortable position advisers who recommended Keydata are in today is exactly where those who advised on Arch Cru could soon find themselves...

A banned financial adviser who was last week arrested for misleading investors as part of a investigation by the Financial Services Authority (FSA) and West Midlands police has been named.

A Poole-based IFA has expressed anger at lawyers for the FSCS for apparently mistakenly including the name of his firm on a list of businesses the scheme may pursue for money it paid out to Keydata investors.

The Financial Services Compensation Scheme (FSCS) has reassured savers with Northern Rock plc and new owner Virgin Money that account holders will have separate cover at each of the two banks.

The Financial Services Compensation Scheme (FSCS) has begun reimbursing firms some or all of their share of a £326m interim levy after they successfully applied for a refund.