FSCS

MP Mark Garnier has pledged to "pick up the baton and run with it" on the reintroduction of a 15 year long-stop for advisers, starting with lobbying the influential Treasury Select Committee (TSC) on which he sits.

The FSCS will reveal how much extra cash it needs from the industry to pay for failures including Keydata and Wills & Co by the end of the month.

The FSA has confirmed the new deposit compensation limit will increase from £50,000 to £85,000 per person to tie in with new European Economic Area (EEA) regulations.

Dozens of Norwich & Peterborough (N&P) customers who invested in failed firm Keydata say they were not given key features documents (KFDs) on the products until after they had parted with their money.

As the year draws to a close, we ask advisers for their best achievements of the past 12 months.

Thousands of investors in Keydata plans backed by Lifemark are facing another setback in their bid for compensation after the administrator says he is "really questioning" the quality of traded life policies (TLP).

The Financial Services Compensation Scheme (FSCS) is to launch a £4m publicity campaign in the new year to boost consumers' awareness of its activities.

The FSCS has denied claims Lifemark investors will forfeit their rights to compensation if they reject a planned rescue deal for the fund.

A group of 700 investors who lost millions in Keydata backer SLS Capital are sending their IFAs to meet lawyers raising a case against the fund's supervisors.

The FSCS is facing angry calls from both IFAs and investors to make its decision-making process more transparent, after two controversial judgments involving Lifemark-backed Keydata bonds and Lehman Brothers-backed NDF products.