FSCS

AIFA is reassuring members it has not given up the fight to ensure intermediaries do not foot the £58m compensation bill to cover the failure of investment ‘provider' Keydata, following veiled criticisms about its apparent inaction.

An IFA is taking the FSA to task over the costs of regulation after calculating the percentage of his firm's hourly rate that goes to the FSA.

A proposal enabling the FSCS to act "on behalf" of other compensation schemes anywhere in the world could lead to higher levy costs for UK financial advisers.

Positive Solutions has been forced to pay out more than £1m to cover compensation costs relating to a number of investment failures last year.

The Serious Fraud Office (SFO) is now investigating the activities, control and ownership of Lifemark, and the activities of Keydata in marketing and selling products underpinned by bonds issued by Lifemark.

Former clients of defunct adviser firm Network Data have been invited to file for compensation after the FSCS today declared the network in default.

The FSA's immunity from civil action under conduct of business legislation is fuelling poor regulation and failure in the financial services industry, says an IFA support group.

A controversial interim levy to cover the collapses last year of Keydata and two stockbrokers will be applied to the investment intermediation sub-class despite widespread opposition, the FSCS has confirmed.

Mary Stewart goes through the top ten questions advisers should ask when choosing a SIPP provider

An IFA with client money caught up in the Keydata debacle has called on the FSCS to justify its proposed additional industry levy.