View more on these topics

FSCS to pay out £0.5m for BIA endowment complaints

The Financial Services Compensation Scheme has estimated an average of £544,000 to be paid out in compensation payments on endowment-related complaints against BBB Network.

Following a further update from PwC, the FSCS says it is now aware of just over 400 potential claims against BBB Network Limited (formerly Berkeley Independent Advisers).

Of these claims, around 68 per cent relate to mortgage endowment misselling.

FSCS says because the average compensation payment for mortgage endowments is £2,000, it reckons that around £544,000 will be paid out so far in respect of these claims it is aware of so far.

Recommended

Sesame accused of dragging its feet on payouts

Claim-chaser Brunel Franklin has accused Sesame of dragging its feet over paying out compensation to customers. Brunel Franklin says it has over 150 cases outstanding against Sesame, with clients waiting up to 10 weeks to receive payment. It says it was told by the Sesame claims team that there is a six to eight-week delay […]

Cap fight

Matt Goodburn gauges debate on whether to invest in mid caps or large caps

Capita links Quay users with Webline

Capita is to inter-connect Quay’s client management technology with Webline’s quote and application por- tal, allowing 20,000 users to exchange information between the two platforms. Quay users will be able to access the Webline portal at no extra cost. All interconnected information will be FSA-compliant, giving an automated audit trail. The ongoing project, Capita Enabler, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment