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Stacks of claims against Beaufort Securities

1,400 claims against Beaufort Securities land with FSCS

15/11/2018

The Financial Services Compensation Scheme, which acts as a lifeboat to pay claims when firms cannot, has received over 1,400 mis-selling claims relating to the Beaufort Securities scandal. Beaufort, which entered into administration back in March shortly after it was revealed that parties relating to Beaufort were caught up in an FBI sting, provided discretionary … Continued

FSCS List

5 financial advisers declared in default with FSCS: Can you claim?

25/10/2018

The Financial Services Compensation Scheme has declared five financial advice firms in default in the month of September 2018. They are: Cygnus Investment Management Ltd Soussan, Esq Foreman Financial Services Ltd (Graingerco) Independent Mortgage Advice Bureau (Stevenage) Ltd The Financial Factory Ltd What does being declared in default by the FSCS mean? When claims are … Continued

Compensation for mis-sold pensions

FSCS stocks up for mis-sold SIPP claims compensation whirlwind

22/01/2018

Time for a SIPP Health Check? The Financial Services Compensation scheme has told Life & Pensions advisers that they are set to pay £87m to help fund the SIPP Claims compensation whirlwind it has to pay out to people who have been mis-sold their SIPP pension investments. Speaking about the increase, the FSCS confirmed they … Continued

Grainger Co Claims after de-listing

Foreman Financial Services (GraingerCo) ignores Ombudsman over mis-sold SIPP complaint

10/01/2018

The Tunbridge Wells firm is now closed, after the FCA revoked their authorisation Foreman Financial Services, which often traded as GraingerCo has closed it’s doors after the FCA took action, apparently over the way it handled itself over a SIPP pension complaint. The FCA, which regulated all authorised financial services companies, took away GraingerCo’s ability … Continued

Are Sipp Providers Liable?

FSCS moves to put SIPP providers on the target list

30/03/2016

People who have suffered from a mis-sold SIPP will be pleased to see that the Financial Services Compensation Scheme (FSCS) are considering holding SIPP Providers liable for the mis-sold SIPPS as well, not just the investor’s Financial Advisor. Until a recent review, the responsibility for important pre-investment checks for client suitability has sat almost solely … Continued