The Financial Services Compensation Scheme has so far paid out almost £50m in compensation to victims of the Ethical Forestry Limited investment fraud.

The Financial Services Compensation Scheme (FSCS), the industry-funded safety net for consumers, recovered £34m from failed firms in its 2025/2026 year and paid compensation to 14,000 people.

The FSCS has said its total industry levy payable by firms for the 2026/27 financial year will be £247m, a fall of £95m on its previously published forecasts.

Sapia, the principal of failed wealth manager WealthTek LLP, has agreed to pay more than £19m to WealthTek clients after failing to protect their money.

The Financial Services Compensation Scheme plans to automate all ‘routine tasks’ with the use of artificial intelligence by 2031, according to its five-year strategy report.

Milton Keynes-based financial adviser Chancery Partnership Ltd (FRN: 210093) has been declared in default by the Financial Services Compensation Scheme (FSCS) over 20 years after it lost regulatory authorisation.

A Financial Planning firm based in Ellesmere Port, Merseyside, has failed after a claim against the firm was upheld this week by the Financial Services Compensation Scheme.

A Scottish financial adviser firm, which was based at Perth Airport, has failed after a pension claim against the business was upheld by the Financial Services Compensation Scheme.

Hanson Financial Partners (FRN529347), a Financial Planning firm based in the North East, was declared in default today by the Financial Services Compensation Scheme.

The Financial Services Compensation Scheme has this week declared as failed WJR Financial Solutions Ltd of Sunderland after receiving a number of claims against the firm.

Surrey-based financial adviser Independently East Limited (FRN 488046) has been declared in default today by the Financial Services Compensation scheme.

The Financial Services Compensation Scheme has declared Greenhill (Life & Pensions) Ltd (FRN: 126761), of Beaconsfield, Bucks, as failed.

The Financial Services Compensation Scheme (FSCS), the industry-funded consumer compensation body, declared five regulated firms in default in June and July, it reported today.

The FCA has handed £150 compensation to an unnamed adviser who said his firm was wrongly listed on the Financial Services Register as an appointed representative for an unnamed firm he had already left and never worked with.

The Financial Ombudsman Service has proposed to change the interest applied to any awards it directs financial firms to make.

The Financial Services Compensation Scheme (FSCS) is to open further investigations into failed wealth manager WealthTek as it makes ‘substantial progress’ on client payouts.

The FSCS declared only five regulated firms in default in February and March, sharply down on the 12 firms it declared in default over the same period in 2024.

Financial Planning Today editor Kevin O’Donnell recently interviewed Financial Services Compensation Scheme interim CEO Martyn Beauchamp at his London HQ about how the organisation is dealing with new challenges and a changing regulatory environment. The full article appears in the latest issue of Financial Planning Today magazine. See below for a link to view the issue.

The Financial Services Compensation Scheme (FSCS) has managed to keep management expenses for the coming year under control but still faces imposing a £129m levy increase in 2025/26.

A Glasgow-based adviser firm has been declared in default by the FSCS, opening the door to ex-clients to make claims for compensation.