Keydata

The founder of Keydata has blasted the FSA for "draconian action" he claims led to the investment firm's unnecessary insolvency and collapse.

Keydata has defended itself against claims it deliberately 'misled' investors about which groups backed the SLS bonds marketed to advisers.

The Norwich and Peterborough (N&P) building society wrote to its Keydata customers as early as 2006 with concerns about the clarity of the provider's marketing material.

The US hedge fund which has given Keydata a brief reprieve by plugging a short-term funding gap is "no white knight", warns an IFA involved in the deal.

Norwich & Peterborough (N&P) Building Society is offering victims of failed investment vehicle Keydata £2m in interest-free loans until the end of the year.

The FSCS has paid investors back on tax claims relating to Lifemark ISAs.

The per-firm impact of the controversial £58m FSCS interim levy has been highlighted by figures showing more than 450 IFAs opted to pay their share in instalments rather than as a lump sum.

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.

The judicial review into the additional £80m levy for intermediaries has little chance of succeeding because the FSCS's decision - whilst smacking of unfairness - is technically legal, says Adviser Alliance.

Merchant Capital has bought Keydata's structured product book and third-party administration services.