FSCS
FSCS investigating advice firm with Portugal links
Company advised on and arranged pension transfers into the Trafalgar Multi Asset Fund
Alarmed FSCS says bad advice responsible for 80% of claims
Tackling the problem can ‘sustainably reduce the levy over the long term’
Advice firm under investigation over pension transfers
It failed to pay compensation as ordered by the Financial Ombudsman Service
FSCS cap saw investors lose £1bn in compensation
Pension advice claims made up almost half of the total
UK lifeboat scheme cuts 2022/23 levy to £625m
But compensation payouts expected to be greater than last year