FSCS investigates 2 failed advice firms

The Financial Services Compensation Scheme is investigating two failed adviser firms hit with multiple claims over pension transfer advice.

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Investment and pension advice top £403m FSCS claims

The majority of the £403m in claims paid by the Financial Services Compensation Scheme in 2022/23 were due to investment and pension advice including SIPP operator failures.

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2 more advice firms fail with BSPS claims

Two financial advice firms - one in Cardiff and one in Bristol - have been declared in default by the Financial Services Compensation Scheme with a combination of over 100 claims related to pension transfer advice.

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FSCS may be extended to Long Term Asset Funds

The FCA is consulting on new rules which would extend FSCS protection to retail investors investing in Long Term Asset Funds (LTAFs).

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