FSCS

Investors in failed structured product provider NDF Administration (NDFA) are planning a legal challenge to an FSCS decision not to compensate their loss.

The FSA has proposed setting the new FSCS deposit compensation limit for investors at £85,000 - but says it may revise this figure if the euro-sterling exchange rate deteriorates.

Positive Solutions reports pre-tax losses for 2009 in excess of £7m, due largely to a one-off multi-million pound tax hit.

Norwich & Peterborough Building Society (N&P) has requested more time to deal with complaints from customers caught up in the Lifemark scandal.

The Financial Services Compensation Scheme (FSCS) will increase the claims limit for investors to €100,000 from January 2011.

Lawyers representing Norwich & Peterborough (N&P) customers sold Keydata products have written to CEO Matthew Bullock accusing him of seeking "special treatment" over compensation claims which could hit thousands of IFAs.

The FSCS has moved to deny 'inaccurate' press reports it plans to cut the compensation cover for investments from the current £50,000.

People who need financial advice don't often seek it but, as IFA Angela Wise of WH Ireland explains, there are ways to get the message across.

The Financial Services Compensation Scheme (FSCS) could be forced to pay out to hundreds of investors who lost money in Keydata, not just through ISAs, in light of evidence directors knew as early as 2005 their promotional literature was "misleading"...

The Treasury is proposing setting up separate compensation schemes and ending the current cross-subsidy between different classes of FSCS levy payers.