Keydata

LIFEMARK

PII

A FINE MESS

FAIR?

The European Life Settlement Association (ELSA) has blamed the "sensationally negative" FSA for damaging the traded life policy sector (TLPI) sector.

The Financial Services Authority (FSA) has been told by a judge that it must destroy privileged attorney-client emails it obtained as part of its investigation into Keydata.

The Financial Services Compensation Scheme (FSCS) has begun proceedings against more than 160 advisory firms it alleges mis-sold Lifemark-backed Keydata products.

A total of 162 firms have been included in proceedings launched by the Financial Services Compensation Scheme to claw back money paid out to investors in Lifemark-backed Keydata products.

An IFA has been instructed to compensate a couple their entire invested capital in a Keydata bond plus interest after an ombudsman found he "completely disregarded" their interests when advising them.

An independent adviser has been told he will not have to compensate a client he recommended invest in a Keydata product, even though an ombudsman ruled he had given unsuitable advice.