As reported by FT Adviser, firms in the self-invested-personal-pension (Sipp) market are being shunned by advisors unless they can demonstrate an unblemished track record, as the growing scandal intensifies. Investors have lost millions as a result of providers allowing unregulated, non-standard investments to form part of their SIPPs, which later failed. The market is now

The Financial Services Compensation Scheme (FSCS) has declared 24 UK financial firms in default, meaning that the FSCS is satisfied that these firms are unable to pay claims for compensation made against them. This opens the doors for customers of that firm to make a claim for compensation to the FSCS. The full list of

As reported by Money Marketing, Financial Services Compensation Scheme (FSCS) levies are to increase for the coming year, to reflect the growth in claims from poorly advised defined benefit pension transfers, according to chief executive Mark Neale. Mr Neale recently wrote in his blog that the new levies, which will be published in April, will

The Financial Conduct Authority (FCA) can submit evidence in a landmark case that could shape how Self Invested Personal Pension (SIPP) claims are handled in future, a High Court Judge has said. As reported by Money Marketing, the case centres on lorry driver Russell Adams, who alleges that he was the victim of mis-selling by Carey

Following a Financial Conduct Authority (FCA) investigation into so-called ‘closet trackers’, tens of investment management firms have compensated investors for overcharged fees to the tune of £34 million. As reported in the Sunday Telegraph, the FCA investigation analysed the marketing materials of 84 firms, with 64 deemed unsuitable due to their misleading nature. The FCA

The Financial Ombudsman Service (FOS) has determined that TenetConnect must compensate a client who was not informed of charges on investments in her self-invested personal pension (SIPP). As reported by Money Marketing, the complaint centres on the financial advisor LEBC, which was an appointed representative of Tenet until August 2017. According to the complainant, known

Carey Pensions, a Self-Invested Personal Pension (SIPP) provider, is facing claims worth up to £3m in what could be a watershed moment for the way such claims are handled, as reported by FT Adviser.  The firm is accused of working with unregulated introducers to facilitate investments in Store First storage pods, which have been described

The FSCS, Financial Services Compensation Scheme, declared a list of companies in default during the period of 1st November– 31st December 2017, meaning that consumers could be eligible for compensation if they have lost money as a result of direct dealings with the businesses listed below. Declaring an organisation as in default means that the ‘FSCS is

Europe’s second-largest steel producer, Tata Steel, employs 3500 people in Port Talbot, Wales, many of which have been subject to mounting pension problems after receiving bad advice, as reported by the Financial Times. Pension sharks allegedly targeted the savings of Port Talbot steelworkers whilst the British Steel Pension Scheme (BSPS) faced restructuring as advised by

The Financial Conduct Authority (FCA) has been questioned after the Financial Services Compensation Scheme (FSCS) landed a bill of £6.7m and counting, after Cherish Wealth Management, a small investment advisory firm went into liquidation. The financial services company based in Solihull founded nine years ago and employed just five members of staff. The compensation figure