By Amy Austin. The Financial Services Compensation Scheme (FSCS) has reduced its levy for 2021/22 by more than £200m to £833m, as it expects firm failures and some claims to be delayed over the next few years.Back in January, the lifeboat scheme had forecast its levy for the year to be £1.04bn, which was a...Read More

By Amy Austin. The Financial Services Compensation Scheme (FSCS) is expecting to pay out £39.6m on claims against troubled self-invested personal pensions (Sipp) provider Lifetime Sipp, but claims could double yet.According to the latest liquidator’s report, published on Companies House last week, as of April 2020 the FSCS had agreed claims totalling £36.9m from 753...Read More

By Cristian Angeloni, 28 Jun 21. As Gina Miller files complaint against regulator over reforms to its scheme Activist Gina Miller and her husband Alan have turned to law firm Shearman and Sterling to submit a letter of support to an official complaint made by London Capital & Finance (LCF) investors. The submission to the...Read More

By Robbie Lawther, 28 Jun 21. After the lifeboat service said investors could be eligible for compensation.The Financial Services Compensation Scheme (FSCS) has reversed its decision to declare UK financial advice firm Better Retirement Group in default. On 16 June 2021, the UK lifeboat service said it was making investors aware that the Northampton-based advice...Read More

By Cristian Angeloni, 6 Jul 21. ‘It’s taking longer than we’d like to allocate cases’ for investigation Thousands of consumers are waiting for years for their complaints to the Financial Ombudsman Service (FOS) to be resolved.A Freedom of Information request by British newspaper The Telegraph, seen by International Adviser, showed that many savers are having...Read More

By Dan Whelan, 2 Jul 2021. The construction firm has called in administrators after 26 years of trading. The last financial results Nobles published were for the period between 1 October 2017 and 30 March 2019. The company recorded turnover of £25m and a pre-tax profit of £210,000.Nobles Construction was founded in 1995 and employs...Read More

By Cristian Angeloni, 1 Jul 21. Seven of which provided financial advice and/or life insurance services.The Financial Services Compensation Scheme (FSCS) declared 10 companies in default between April and May 2021.Of those, five were financial advisory businesses and two provided life insurance. They are:The Heath Consulting Company in Reading, Berkshire;Wrightway Financial Consultants in Tunbridge Wells,...Read More