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Keith Richards: Consumer compensation shake up is vital

Financial Ombudsman Service data shows 1,635 new complaints were received about financial advisers in the 2019 to 2020 financial year, down a bit from 1,915 in 2018 to 2019, the PFS chief executive writes in his latest column for Financial Planning Today Magazine (July/Aug issue).


FSCS pays out £13.5m to 844 LCF victims

The Financial Services Compensation Scheme has increased the speed it is settling LCF claims and has so far paid out £13.5m to 844 people hit by the collapse of the mini-bond firm.


FSCS appoints 3 new directors including ex-Aviva exec

The Financial Services Compensation Scheme has appointed three new non-executive directors to the FSCS board, including a former Secretary of State and a former chief operating office at Aviva.


FSCS compensates 258,000 customers of failed firms

The FSCS paid over 258,000 customers who had suffered losses from 874 failed financial services firms in 2019/20, predominantly using levies from over 49,000 regulated firms.

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