Brokers to settle ‘very little’ of £19m financial adviser claims amid latest FCA blow, legal expert says
The FCA’s hopes of getting insurers and brokers to settle £19.2m in IFA claims is in doubt, with a fresh legal challenge the latest blow to hit the regulator’s compensation scheme.
The plans for a compensation scheme for poorly-advised British Steel pension members have been challenged by FS Law.
FS Law claims the compensation scheme is flawed and has filed an application with the Upper Tribunal (Tax and Chancery Chamber) to have it quashed.
Representing financial advisers who potentially could have to pay millions in compensation for poor advice to British Steel members on pension transfer, FS Law wants the regulator to publicly announce a dropping of the British Steel
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