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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).

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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.

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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.

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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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