A Poole-based IFA has expressed anger at lawyers for the FSCS for apparently mistakenly including the name of his firm on a list of businesses the scheme may pursue for money it paid out to Keydata investors.
Chris Paul, director at PFM Associates, was one of 537 firms who yesterday received the particulars of claim documents from Herbert Smith, the law firm hired by the FSCS, which included the names and addresses of all companies linked to sales of SLS-backed Keydata products. The document also detailed the names of investors in the products, which firm they dealt with, and how much they invested. Paul said he was shocked to receive the package and find his name on the list as he had never recommended a Keydata product. He realised the person to whom his firm had supposedly invested i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
