Keydata

HM Treasury may step in to support victims of the Keydata Investment debacle, according to reports.

Regulatory Legal says adviser inertia threatens to derail its campaign to mount a judicial review into the FSCS's decision to increase levies to meet the £70m costs of failed Keydata.

Andrew Swallow, an IFA with clients affected by the Keydata debacle, is calling on other advisers linked to its International Traded Life Policy fund to unite with him to force more information from the administrators.

The cost of compensating Keydata victims is likely to hit £440 for the ‘typical' adviser firm in the appropriate sub-class, according to AIFA calculations.

Lifemark, the life settlement vehicle embroiled in the collapse of Keydata, has been given a further six months to restructure.

The FSCS plans to hit IFAs with a proposed levy of £70m before the end of March.

The Luxembourg financial services regulator has suspended the securities of Lifemark S.A from trading on the Luxembourg Stock Exchange.

The FSA should immediately review its authorisation procedures following news IFAs will need to pick up the tab for Keydata compensation, according to AIFA.

The Financial Services Compensation Scheme (FSCS) expects the number of claims against structured products firms to continue to increase throughout next year, meaning its costs will also rise accordingly.

Meteor Asset Management has received FSA approval to establish a separate administration company which will give greater protection to investors.