Compensation
Good news for investors in defunct Beaufort
Nearly all individual customers of Beaufort Asset Clearing Services are expected to be protected in full for the return of money and assets, the UK’s Financial Services Compensation Scheme (FSCS) has confirmed.
Aussie complaints body gets launch date
The Australian Financial Complaints Authority (Afca) will provide “free, fast and binding dispute resolution to consumers and small businesses” from 1 November 2018.
UK lifeboat scheme to pay 2,700 Beaufort clients in May
The Financial Services Compensation Scheme is aiming to reimburse circa 2,700 clients of defunct Beaufort Asset Clearing Services next month, provided their investment was worth less than £2,000 ($2,802, €2,280).
UK compensation scheme declares 11 firms in default
The Financial Services Compensation Scheme (FSCS) declared 11 firms in default during March 2018, meaning that consumers could get back money they have lost.
Hong Kong to roll out insurance lifeboat scheme
Policyholders in Hong Kong will be protected for the first time should their insurer become insolvent if plans to introduce a mandatory industry-funded compensation scheme come to fruition.