SIPP operator Corporate & Professional Pensions Ltd (FRN: 465748) has been declared in default by the Financial Services Compensation Scheme.

The Financial Services Compensation Scheme, the industry consumer safety net, has so far received 644 claims against failed SIPP provider Forthplus Pensions Limited, it reported today.

The Financial Services Compensation Scheme has declared Sussex-based wealth manager and Financial Planner Facet Investment Management Ltd (FRN 131372) in default.

Kent-based financial advice firm Christopher Barker, trading as Apollo Pension & Investment Advisers (FRN: 470611), has been declared in default by the Financial Services Compensation Scheme.

The Financial Services Compensation Scheme (FSCS) has started an investigation into Hertforshire-based financial adviser Business Agent Ltd (FRN: 669880).

The Financial Services Compensation Scheme (FSCS) is to open further investigations into failed wealth manager WealthTek as it makes ‘substantial progress’ on client payouts.

Leeds-based adviser IFA Ltd, trading as Cowburn Milner & Company Limited (FRN 433928), has been declared in default by the Financial Services Compensation Scheme.

Car leasing investment company Raedex Consortium Ltd (FRN 668924), trading as Wheels4Sure and Rent2Own Cars, has been declared in default by the Financial Services Compensation Scheme.

The Financial Services Compensation Scheme (FSCS) has declared AXG Advice Ltd (FRN: 450813) as having failed.

Campbell & Associates Independent Financial Advice Ltd (FRN: 602550) has been placed under investigation by the Financial Services Compensation Scheme, after its sole director was charged with a £2.3m against involving clients.

Colchester-based financial advisers Mr G and Mrs P Speller - trading as Solutions Financial Services (FRN 457106) - have been declared in default by the Financial Services Compensation scheme 11 years after losing their FCA authorisation.

Glasgow-based pension adviser firm Executive Benefit Consultancy Ltd (FRN: 207482) has been declared in default by the Financial Services Compensation scheme.

East Lothian-based adviser firm Money Advice Partnership Ltd (FRN: 715880) has been declared in default by the Financial Services Compensation Scheme.

The Prudential Regulation Authority (PRA) has today said it proposes to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000.

London-based wealth manager LLP Services Ltd (FRN: 229382) has been declared in default today by the Financial Services Compensation Scheme (FSCS).

The network arms of failed advice firm Tenet - TenetConnect (FRN: 149826) and TenetConnect Services (FRN 150643) - have now both been declared in default by the Financial Services Compensation Scheme, opening the door to compensation claims.

The 498-member Basildon Credit Union Limited (FRN: 213229) has gone into administration and been declared in default by the Financial Services Compensation Scheme (FSCS).

The Financial Services Compensation Scheme (FSCS) has today appointed interim CEO Martyn Beauchamp as its permanent CEO.

So far this financial year the Financial Services Compensation Scheme has declared 40 firms in default, opening the door to ex-clients to submit claims for millions of pounds of compensation.

Three in five investigations by the Financial Services Compensation Scheme result in no declaration of default by the body as firms can meet the costs of claims themselves, interim FSCS CEO Martyn Beauchamp has told Financial Planning Today editor Kevin O’Donnell in an exclusive interview.