FSCS

Investors in some Keydata structured plans who chose not to ‘tick the ISA box' still need clarification on their rights to claim for compensation, a victims' support group argues.

Keydata has been declared in default by the Financial Services Compensation Scheme (FSCS), meaning customers can start making claims.

Financial Services Compensation Scheme (FSCS) coverage for SIPPs is overly complex, and should be simplified to make it easier for advisers to understand, according to John Moret.

The Association of IFAs (AIFA) says it is "absolutely vital" the FSA devises a fair method for firms calculating their Expenditure Based Requirement (EBR).

All personal investment firms (PIFs) will have to hold capital resources worth three months of their annual fixed expenditure (the EBR), the FSA confirmed today.

The FSA is likely to bow to stakeholder pressure by dropping plans to force firms to hold three months' worth of fixed costs as part of its capital requirements for investment advisers, Professional Adviser understands.

Royal Bank of Scotland (RBS) and Lloyds have both agreed to defer bonuses in return for an additional £40bn of taxpayers' money as part of a deal with the Government that will break up two of Britain's biggest lenders.

Research suggests a gap has emerged between how IFAs rate their performance and the actual scores that their clients awarded them.

Structured product provider Arc Capital & Income has today gone into administration.

The administrators of structured product providers NDFA and DRL say their priority is to confirm investor funds have been segregated from the firms' business accounts.