FSCS

Advisers could be hit with a further compensation bill for Keydata as the FSCS says it has not ruled out another levy linked to the failed investment firm.

AJ Bell has changed the terms and conditions (T&Cs) of its SIPP products allowing it to pass on the costs of FSCS and FSA levies to investors in the future.

The FSCS has recouped £28m from Norwich & Peterborough (N&P) after the building society admitted it mis-sold investors Keydata products, putting levy payers in line for a rebate.

Troubled building society Norwich and Peterborough (N&P) has agreed the terms of a proposed merger with Yorkshire Building Society.

Three practitioners with contrasting views talk to Maria Merricks about why they have decided on their chosen route.

The British Insurance Brokers' Association (BIBA) has launched a member petition to be tabled in the House of Commons on the way the FSCS is funded.

The FSCS has trimmed £6m off its earlier estimates for investment advisers' annual levy and the amount will instead be paid by the life and pensions intermediation sub-class.

The FSCS will prioritise the fund management sector ahead of IFAs when it rebates the interim levy with any recoveries linked to Keydata.

Clients due FSCS compensation after investing in Keydata via their SIPP should beware unforeseen tax charges when they receive payment, providers warn.

Greg Kingston discusses the key trends affecting the SIPP market