FSCS

The Financial Services Compensation Scheme (FSCS) could bill investment advisers a further £30m after returning the money to firms who miscalculated their levies.

The Financial Services Compensation Scheme (FSCS) will loan troubled Keydata-backer Lifemark $10m (£6.3m) to prevent its default and buy it time to start generating returns for investors and industry levy payers.

The Financial Services Compensation Scheme (FSCS) received almost 700 fewer investment claims in 2010/11 than the previous year.

The Financial Services Compensation Scheme (FSCS) saw the number of claims received increase by 25% last year, as well as a 75% rise in enquiries.

Pension providers have urged the Financial Services Compensation Scheme (FSCS) to stop making Keydata compensation payments in SIPP and SSAS cases until a number of legal issues are resolved.

The Practitioner Panel has called on the government to force regulators to consider the impact of cross-subsidisation in the financial services compensation scheme (FSCS).

The Treasury has ruled out launching its own independent inquiry into the collapse of Keydata until after the Financial Services Authority (FSA) has completed its review - which has so far stretched to two years without any public findings.

A Havant-based bank with just over 250 customers and around £7.4m in deposits has gone into insolvency, with the FSCS set to compensate victims.

MPs who back advisers' calls for a speedy review of FSCS funding will take the fight to Treasury Secretary Mark Hoban, after the FSA last night refused to commit to an April 2012 deadline for the overhaul.

The Financial Services Authority (FSA) spent £763,000 on a review of the Financial Services Compensation Scheme (FSCS) only to shelve it in 2010.