Keydata

Professional Adviser has obtained the latest list of advice firms being pursued as lead defendants by the Financial Services Compensation Scheme (FSCS) in relation to Keydata sales.

Aegon-owned national adviser Origen doubled its pre-tax losses to £5.6m in 2013 after settling historic claims and investing in its workplace solutions arm, the firm's accounts have shown.

HSBC has vowed to fight a $250m (£151m) lawsuit brought against it over its alleged involvement in the Keydata scandal.

The Whitechurch Network spent more than £704,000 in 2013 settling claims related to advice given by its appointed representatives on Keydata and Arch Cru.

Another Keydata adviser has been declared in default by the Financial Services Compensation scheme (FSCS), as it published a new list of 28 advice firms unable to meet claims against them.

Sesame Bankhall Group has set aside £31m for possible customer redress as "a number" of business reviews with "uncertain" outcomes are completed, parent company Friends Life has announced.

The former boss of failed investment firm Keydata is suing the regulator for £371m, accusing it of a "politically motivated" abuse of power.

The first significant lawsuit from the Keydata scandal has been issued against US-based brokerage CRT Capital, according to the Financial Times.

The Financial Services Compensation Scheme's (FSCS) case against advisers who sold Keydata products has been further delayed as the judge considers whether to include firms with less in claims against them than previously required.

Financial Services Compensation Scheme (FSCS) chief executive Mark Neale has said the service "hopes" to be able to publish a full account of what it has clawed back from firms who mis-sold Keydata products next year.