The Financial Services Compensation Scheme's (FSCS) case against advisers who sold Keydata products has been further delayed as the judge considers whether to include firms with less in claims against them than previously required.
The judge has ordered applications for firms with claims worth more than £100,000 to be submitted by October and will decide whether to consider them as lead case defendants at a case management conference planned for the end of that month. The move to lower the threshold from £150,000 to £100,000 came after more and more firms were paying up, objecting or being found unsuitable as lead cases. Of the initial 74 firms only two may end up in the running for the role lead case defendants after some further objections have been considered. If confirmed the new threshold could add a fur...
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