Revealed: The full list of Keydata advisers facing FSCS legal action

Laura Miller
clock

Lawyers hired by the FSCS to pursue claims against IFAs who recommended Keydata yesterday sent out letters with the names and addresses of every firm it is chasing. IFAonline can now exclusively reveal the full list.

The court particulars of claim from Herbert Smith give the details of 537 financial services firms which invested clients in Keydata products. The FSCS may pursue recovery from them of the compensation it has paid out to Keydata investors. Some advisers have already contacted IFAonline to say their firm is named incorrectly as they have never sold a Keydata product. They have complained to Herbert Smith and the FSCS. The list set out below, filed with the High Court, is set to be only the first part of the FSCS's attempt to prove advisers gave negligent advice to Keydata investors, as...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Investors take group action against RL360 over collapsed funds

Investors take group action against RL360 over collapsed funds

Claim brought to Isle of Man to seek compensation for losses

Isabel Baxter
clock 27 March 2025 • 2 min read
Watch Professional Adviser's Working Lunch on Baillie Gifford's Scottish Mortgage trust - A World of Opportunities

Watch Professional Adviser's Working Lunch on Baillie Gifford's Scottish Mortgage trust - A World of Opportunities

Catch up on the discussion

Professional Adviser
clock 25 March 2025 • 1 min read
Other investing strategies are available: Performance chasing has served well despite risks

Other investing strategies are available: Performance chasing has served well despite risks

'Perhaps not surprisingly in such momentum-driven markets, performance chasing came out top'

Laith Khalaf
clock 24 March 2025 • 4 min read