Mis-sold Pension Stories: Anthony and the Unregulated Land Bank

While we consider every claim for a mis-sold pension compensation for our clients a good moment (and that’s almost everyday anyway), some days are a little better than others. Like just last week, when we helped Anthony win back his SIPP pension investment from a high-risk and unregulated land-banking scheme, with a direct claim totaling…

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FSCS has to draw from reserves to pay compensation for the first time since the Banking Crisis

The Financial Services Compensation Scheme has been forced to take money from its reserves to pay compensation for the first time since the ‘banking crisis’ – something it puts down to a rise in the amount of claims being put forward. The FSCS automatically provides a life-boat for certain products and services regulated by the…

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MORE firms agree with FCA to halt pension transfers

16 companies have voluntarily agree with the Financial Conduct Authority to cease pension transfers A pension transfer (as defined by the FCA) is when a defined benefit pension (such as a final salary scheme, or other occupational scheme that guarantees a certain pay-out on retirement) is transferred to an alternative pension scheme, such as a…

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The important, retirement-saving question you NEED to ask: How safe is your SIPP pension?

With even more pension transfers to SIPPs under scrutiny, and even more cases of pension mis-selling set to be received by the Financial Ombudsman in 2017/18, we challenge those who transferred into a SIPP to ask themselves an important, retirement-saving question: How safe is your SIPP pension? Following the success of ITV Tonight’s How Safe…

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Are we heading towards a pension mis-selling crisis? Ombudsman expects 3000 EXTRA claims than normal!

Is the full scale of the pension mis-selling about to be revealed? The Financial Ombudsman Service has revised the number of cases it expects to handle that involve pensions and investments from 13,100 to 16,000 for the 2017/2018 period, an increase of 22%. While the Ombudsman has NOT stated any singular or particular reason for…

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FSCS Levy Hikes for SIPP Providers to help pay for those mis-sold under fire from industry

Suggestions that SIPP providers should pay more into the Financial Services Compensation Scheme pot, which helps compensate those who have suffered financial from things like bad advice, has been criticised by the Association of Member-Directed Pension Schemes. What is the Financial Services Compensation Scheme? The FSCS takes a levy from firms regulated by the Financial Conduct…

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4 SIPP providers fail FCA’s new rules on Capital Adequacy; what next?

Four regulated providers of Self-Invested Personal Pensions (SIPPs) have failed the Financial Conduct Authority’s new rules regarding Capital Adequacy, it has been revealed through a Freedom of Information request from New Model Adviser. The rules laid out by the financial services regulator, the FCA, became legitimate on 1 September 2016, and mean that those providers…

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Details of Charges against Harlequin Chairman David Ames reported after court reading

Chairman of the Harlequin group of companies, David Ames (65), has been released on conditional bail, the conditions of which include surrendering his passport to Raleigh Police Station, after the reading of charges against him at Westminster Magistrates Court. Ames, who is 65 from Wickford (Essex), has 3 charges read against him relating to his…

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