29/11/2011 - Keydata Claim IFA Goes Under

Keydata Claim IFA Goes UnderKeydata Claim IFA Goes Under.

Following £6m of claims relating to Keydata, IFA firm Target Financial Management is to enter administration.

Target Financial Management was among the firms being pursued by the Financial Services Compensation Scheme (FSCS) to recoup compensation paid to Keydata claimants.

In January, the FSCS imposed a £326m interim levy on the industry, mainly to cover the costs after Keydata collapsed. Advisers paid £93m while fund firms paid £233m.