Compensation
Lifeboat scheme declares six UK firms in default
Majority of the businesses were based in the south west of England
Australia’s big banks pay out A$120m for bad advice
NAB splashed the most cash at A32.4m for cases which involved a record number of 81 financial advisers
Top UK firms to pay over 60% of compensation scheme levy
While majority of other companies will pay less than £50
Mini-bond investors received advice and can get compensation
UK lifeboat scheme investigation into London Capital & Finance showed misleading advisory practices
Eight firms declared bust by UK lifeboat scheme
FSCS satisfied companies are unable to pay claims paving way for clients to pursue compensation
