13/10/2011 - FSCS Sues IFAs For Keydata Compensation

FSCS Sues IFAs For Keydata CompensationFSCS Sues IFAs For Keydata Compensation.

The Financial Services Compensation Scheme (FSCS) are suing IFAs who sold Keydata products in an attempt to recoup some of the compensation it paid out on Keydata claims.

According to the FSCS any recoveries relating to Keydata compensation will be rebated to fund firms first rather than advisers to pay for the cross-subsidy triggered by the £326m interim levy.