The Financial Services Compensation Scheme (FSCS) has begun reimbursing firms some or all of their share of a £326m interim levy after they successfully applied for a refund.
Lifemark investors have forced a meeting to decide the fate of the troubled portfolio to be postponed while a potential rescue deal is hammered out.
The Financial Services Compensation Scheme looks set to stump up $10m to allow a controlled liquidation of Lifemark after the main contender for a rescue of the fund pulled out.
AWD Chase de Vere has defended its recommendations as "sound" after it became the latest IFA accused of giving negligent advice on Keydata products by lawyers acting for the Financial Services Compensation Scheme.
Lifemark investors and the Financial Services Compensation Scheme (FSCS) will next month get to vote on whether to opt for a controlled liquidation of the troubled porfolio or plump for Keydata founder Stewart Ford's $150m rescue bid.
The Financial Services Compensation Scheme (FSCS) has put together a deal to provide liquidity for the Lifemark portfolio to rival a $150m loan offer brokered by Keydata founder Stewart Ford.
All advisers who recommended Keydata products to low or medium risk clients who later claimed compensation, face the threat of legal action and crippling repayments to the Financial Services Compensation Scheme, lawyers acting for the organisation have...