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Editor’s Comment: A costly legacy of firm failure

It’s been a bad week for some adviser firms with no fewer than seven being declared as failed or under investigation by the Financial Services Compensation Scheme.


FSCS declares 2 adviser firms as failed

Two more adviser firms have been declared as failed today - increasing the number listed as failed or under investigation by the Financial Services Compensation Scheme this week to seven.


Average pension transfer compensation slumps to £12,000

New data from actuarial consultancy OAC suggests that pension savers submitting a complaint about pension transfer advice would now receive just £12,000 in compensation, about half the amount they would have received at the beginning of the year and well below the levels of two years ago.

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