FSCS To Pay Out After Pensions Firm, Mortgage Adviser Fail
By Joanne Faulkner (August 14, 2019, 4:58 PM BST) -- More U.K. consumers are set to get compensation after the Financial Services Compensation Scheme declared six firms in default last month, allowing customers facing losses to seek to recover their money.
Britain's deposit insurance program on Wednesday published its latest default list, which includes a pensions and investments company and a mortgage adviser. More details weren't provided.
A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it.
"FSCS steps in to protect consumers around the U.K. when authorized financial services firms go bust," said Alex Kuczynski, chief corporate affairs officer...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!