Compensation
Big shake-up to UK compensation scheme funding proposed
Product providers could be on the hook for 25% of the Financial Services Compensation Scheme (FSCS) costs currently paid by intermediaries, according to a consultation document released Monday.
Investment | 15 Sep 17
New Earth investor wins appeal
A financial advice firm has been ordered to pay compensation to a client who was wrongly categorised as a professional investor in order for her to invest in the now-collapsed New Earth Solutions Recycling Facilities Investment fund.
Axa Life Singapore ordered to pay $3m over bad reference
Axa Life Insurance Singapore has been ordered by the country’s High Court to pay compensation to a former employee for providing an unflattering reference to the Monetary Authority of Singapore (Mas) and his prospective employer, Prudential Assurance Company Singapore.
United Kingdom | 14 Aug 17
Coutts loses ombudsman fight over discretionary portfolios
A couple who claimed Coutts mismanaged their discretionary portfolios have won a fight for compensation after taking their case to the Financial Ombudsman Service (FOS).
Tax & Regulation | 9 Dec 15
APFA calls for product levy to reform FSCS funding
Levies set by the UK’s Financial Services Compensation Scheme (FSCS) hit an all-time high in 2015, with many firms concerned that they have reached unsustainable levels, according to APFA.