The Financial Services Compensation Scheme has declared 30 failed regulated firms in default between 1 November and 31 January 2020, opening the door to compensation claims.

The Financial Services Compensation Scheme said today it has made the first pay-outs - totalling just under £2.7m - to 135 victims of the LCF mini-bond firm collapse.

The Personal Finance Society has reported that 3,000 members have downloaded a template to be used to write to MPs to urge government intervention over rising Professional Indemnity and FSCS costs.

The Personal Finance Society is urging its 40,000 members - hit by a double whammy of soaring Professional Indemnity premiums and escalating Financial Services Compensation Scheme levies - to lobby their local MP for change.