Restricted network Personal Touch Financial Services has incurred an additional £154,000 in costs relating to claims brought against the firm in 2013, its accounts show.
The Financial Services Consumer Panel (FSCP) has downplayed prospects of a cap on liability for financial advice, indicating it would strongly oppose any reintroduction of the 15-year long-stop.
The Association of Independent Financial Advisers (AIFA) has proposed the idea of ‘customer agreed liability' as a way of tackling the absence of a 15-year long stop on complaints.
A third of IFA firms could be left without PI cover, should the new Financial Services Bill fail to include a long-stop, according to figures from the Association of Independent Financial Advisers (AIFA).
The UK pensions bill hit £7.1trn at the end of 2010, weighed down by firms with defined benefit (DB) schemes owing £1.3trn in pension obligations, national statistics show.
Is shouldering some of the liability for loss when giving advice really something to tell clients?
Tax rules covering employer asset-backed contributions to final salary pension schemes are the latest to come under the taxman's scrutiny with a consultation launched this week.