FSCS

IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch Cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.

Advisers' contributions to the Financial Services Compensation Scheme (FCSC) may rise if a Financial Conduct Authority (FCA) proposal to widen the number of eligible claimants in the event of an investment failure is approved.

The Association of Professional Financial Advisers (APFA) has written to the regulator to ask for a period of regulatory certainty to allow advisory firms to adapt fully to the Retail Distribution Review (RDR).

Tailormade, which advised on self-invested personal pension (SIPP) transfers into troubled overseas property company Harlequin and was a major distributor of Harlequin investments, is entering liquidation because it can't finance redress payments to clients....

The Financial Services Compensation Scheme (FSCS) is in discussions with major financial services firms to display its logo in their TV adverts as part of its awareness campaign.

The Financial Services Compensation Scheme (FSCS) will this week begin making extra payments to Lifemark investors whose claims exceeded the maximum compensation limit.

What do you remember from the week's news?

The Financial Conduct Authority (FCA) has written to advisers asking them why they failed to comply to its redress scheme rules in reporting back on the number of eligible Arch Cru claimants they had on their books.

The Financial Services Compensation Scheme (FSCS) has so far compensated 1,700 claimants with a total of £32m in relation to the failed CF Arch Cru funds.

The Financial Services Compensation Scheme (FSCS) said it is continuing to receive claims in respect of the CF Arch Cru funds, and has put the likelihood of a further interim levy for 2013-14 as ‘medium'.