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FSCS confirms 1,400 clients of collapsed DFM still awaiting refunds

Around 1,400 clients of collapsed discretionary fund manager Beaufort Securities are still waiting for their claims to be processed, Money Marketing understands. The Financial Services Compensation Scheme confirmed it is still working on redress calculations for the cases. Beaufort Securities became the target of both FBI investigations in the USA and FCA sanctions in the UK […]

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‘Catastrophic’ lifetime allowance bills could result from GMP equalisation

More than 100,000 pension savers could face six-figure tax bills if guaranteed minimum pension requirements were equalised, a Freedom of Information Act request from HM Revenue and Customs shows. The request from Royal London shows that people with fixed protection against any past cuts in the lifetime allowance for tax-relief purposes could be invalidated if […]

4

Which financial services names have made the Rich List?

Peter Hargreaves has jumped to 42nd position on the Sunday Times Rich List, a climb of nine places from last year, after seeing his wealth grow £849m to £3.2bn. Hargreaves is no longer on the Hargreaves Lansdown board but has kept a 32.2 per cent stake in the company – the value of which has […]

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