Keydata claimants set for further payouts

clock

The Financial Services Compensation Scheme (FSCS) is notifying investors who lost money in Lifemark-backed bonds distributed by Keydata that they can expect further payments shortly.

Claimants will receive payouts "in the coming months" following an announcement by the Lifemark trustee, SMP Trustees, that a further distribution to bondholders was paid on 20 November. The FSCS said it expects to receive the funds from the trustee within the next few weeks, which it will then pass on to claimants. It added the distribution amounts will vary depending on which Lifemark products claimants invested in. A number of payouts have been made since the Financial Services Authority shut down Keydata - which distributed the Lifemark bonds in the UK - in 2009 for breaching t...

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 Regulation

FCA and FOS release call for input to modernise redress system

FCA and FOS release call for input to modernise redress system

Comes after Rachel Reeves’ Mansion House speech

Isabel Baxter
clock 15 November 2024 • 3 min read
Chancellor targets FOS modernisation and FCA consultation

Chancellor targets FOS modernisation and FCA consultation

Consultation part of the advice guidance boundary review

Isabel Baxter
clock 14 November 2024 • 3 min read
FCA issues warning notice against Crispin Odey over 'lack of integrity'

FCA issues warning notice against Crispin Odey over 'lack of integrity'

Regulator alleges 'reckless disregard' on governance

Cristian Angeloni
clock 04 November 2024 • 2 min read