Compensation
UK regulator rejects compensation cap criticism
Proposed changes to Complaints Scheme prompted industry and consumer backlash
FCA complaints scheme changes ‘unfair, immoral and illegal’
As trio of UK regulators seek to cap redress for financial loss at £10,000
Collapsed wealth firm clients get £4.4m in compensation
Company was declared in default in January 2020
Sipp firm hit with over 1,000 compensation claims
Months after its business was sold by joint administrators
20 fraud victims demand compensation from wealth firm
Rogue adviser stole £4.5m to spend on prostitutes, gambling and luxury holidays