An action group representing hundreds of Keydata investors has called on the Financial Services Compensation Scheme (FSCS) to back its litigation against the multi-national firms which acted on the SLS Capital and Life Settlement Capital Bond Schemes....
Collegiate Underwriting has announced a professional indemnity insurance (PII) deal for IFAs, which freezes rates for two years.
The Financial Services Compensation Scheme (FSCS) says it does not expect any major investment failures in the next financial year after setting another interim levy for financial advisers.
The Financial Services Compensation Scheme (FSCS) has confirmed a £60m interim levy for financial advisers and other investment intermediaries.
Keydata founder Steward Ford is seeking to ban FSA staff who saw protected attorney-client e-mails from being involved in an investigation into the company.
The FSCS is unlikely to recoup compensation costs from Keydata-backer Lifemark after it moved a step closer to administration, with its provisional adminstrator declaring it is unable to restructure it.
Advisers will contribute £33m towards the total expected cost of running the Financial Services Compensation Scheme (FSCS) in 2012/13, although they will also pay an additional interim levy of at least £40m before April.
The Financial Services Compensation Scheme (FSCS) says it expects to recover "very significant" sums of money paid out as compensation to investors mis-sold Keydata bonds.