Keydata

Should the regulator be in the firing line after the Keydata compensation announcement?

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

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.

Keydata founder Stewart Ford has accused administrators Dan Schwarzmann and Mark Batten from PwC of conflict of interest in dealing with the collapsed investment firm.

Lifemark's Luxembourg administrator has rejected FSA claims the regulator is "working closely" with the cash-strapped fund to avoid its liquidation.

Tory MP Zac Goldsmith has pledged to take up the fight for Keydata investors after being contacted by an IFA with clients' money in the failed investment company.

Four MPs from Norfolk have pledged to get justice for investors with money caught up in failed investment firm Keydata.

The full extent of Norwich & Peterborough clients' over-exposure to Keydata products has been laid bare as law firm Regulatory Legal says the issue will likely end in the courts.

Thousands of IFAs exposed to crippling Lifemark and Keydata compensation claims face bankruptcy because a common insolvency exclusion in professional indemnity (PI) insurance will leave them without cover.

A consortium of IFAs and investors, including Norwich & Peterborough (N&P), are in talks to unite to try to save troubed Keydata backer Lifemark, which needs immediate investment to the tune of £13m.