British Steel Advisers Fail Before Redress Scheme Launch
By Martin Croucher (June 10, 2022, 12:32 PM BST) -- Three financial advisers connected with the British Steel Pension Scheme transfer scandal have collapsed, despite efforts to keep such firms afloat ahead of the introduction of a £71 million ($88.5 million) redress scheme.
Whitebridge Financial Planning Ltd., Keywood Olley and Briggs Murray Wealth were among 11 firms listed by the Financial Services Compensation Scheme on Thursday as falling into default in April and May. This means they no longer have cash to be able to pay claims.
The Financial Conduct Authority has sought to block financial advisers connected with the scandal from deliberately depleting assets, so they can pay compensation to...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!