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

The FSCS declared only five regulated firms in default in February and March, sharply down on the 12 firms it declared in default over the same period in 2024.

Financial Planning Today editor Kevin O’Donnell recently interviewed Financial Services Compensation Scheme interim CEO Martyn Beauchamp at his London HQ about how the organisation is dealing with new challenges and a changing regulatory environment. The full article appears in the latest issue of Financial Planning Today magazine. See below for a link to view the issue.

The Financial Services Compensation Scheme (FSCS) has managed to keep management expenses for the coming year under control but still faces imposing a £129m levy increase in 2025/26.

A Glasgow-based adviser firm has been declared in default by the FSCS, opening the door to ex-clients to make claims for compensation.

The FCA is to compensate investors who may have lost money due to failings in the FCA register which allowed a fraudulent firm to trade.

The FSCS has today published details of the 13 regulated firms declared in default in the last two months and revealed details of the top 5 firms - in terms of compensation paid out - so far this year. 

Failed SIPP operator Intelligent Money has been declared in default today by the Financial Services Compensation Scheme, opening the door to ex-clients with valid claims to receive compensation.

A Midlands-based pension adviser firm has failed and been declared in default by the Financial Services Compensation Scheme, the industry compensation safety-net.

The Financial Services Compensation Scheme has declared in default Cornwall-based investment firm European American Capital Services Limited which traded as EA Capital (FRN: 401897).

The Financial Services Compensation Scheme (FSCS) - the industry’s consumer compensation safety-net - has declared six firms in default over the past two months.

The Financial Services Compensation Scheme, the consumer financial safety net service, has declared a wealth manager as failed, opening the door to clients to claim compensation.

The Financial Services Compensation Scheme has declared two pension adviser firms as failed.

The Financial Services Compensation Scheme (FSCS), the safety net scheme for consumers, paid out £423m in compensation to customers during its 2023/24 year, £20m higher than the previous year.