The Financial Services Compensation Scheme, the government back financial safety-net scheme, has appointed a new interim CEO today but says a new permanent CEO will not be appointed until after April.

Customers of collapsed Newcastle-based wealth manager WealthTek are likely to have any losses refunded by the Financial Services Compensation Scheme up to the scheme’s £85,000 limit per person.

Link Fund Solutions Limited (LFSL) says it expects to begin making payments under a £230m redress scheme to Woodford investors in the first quarter of 2024.

People who were ill-advised to transfer out of their DB pension are now likely to be due significantly less compensation, according to actuaries and financial services consultancy OAC.