Keydata

The Financial Services Compensation Scheme (FSCS) will loan troubled Keydata-backer Lifemark $10m (£6.3m) to prevent its default and buy it time to start generating returns for investors and industry levy payers.

This week, more details were published about the new look regulator post the split-up of the FSA.

Consumer groups will have the power to insist regulators investigate complaints of mass mis-selling of financial products when the Financial Conduct Authority takes over in 2013, Mark Hoban, financial secretary, will announce today.

Pension providers have urged the Financial Services Compensation Scheme (FSCS) to stop making Keydata compensation payments in SIPP and SSAS cases until a number of legal issues are resolved.

Our regulators, government and others in the financial services industry are constantly saying they have learnt from the mistakes of the past.

The Practitioner Panel has called on the government to force regulators to consider the impact of cross-subsidisation in the financial services compensation scheme (FSCS).

The Treasury has ruled out launching its own independent inquiry into the collapse of Keydata until after the Financial Services Authority (FSA) has completed its review - which has so far stretched to two years without any public findings.

Plenty of news to digest once again after another busy week in the world of financial advice...

The Investment Management Association (IMA) has called for an independent review into the collapse of Keydata and other investment firms and said the scale of recent failures has not been seen since the Barlow Clowes scandal of the 1980s.

Norwich & Peterborough Building Society (N&P) says all but a few of the 3,200 customers who it advised to invest in Keydata have been sent individual offers of compensation and many have already been paid.