The Financial Services Compensation Scheme has declared in default a company with three trading names, including two Financial Planning arms, after at least one BSPS claim.

Like many this week I was taken aback at the scale of the BSPS pension transfer scandal redress. It’s huge and just the tip of an iceberg.

The Financial Conduct Authority is set to launch a scheme to pay out an estimated £71.2m to victims of the British Steel Pension Scheme pension transfer scandal.

Nikhil Rathi, chief executive of the Financial Conduct Authority, is to face questioning from MPs as part of the Public Accounts Committee’s inquiry into the British Steel Pension Scheme transfer scandal.