Investment Week sister title Professional Adviser has obtained the latest list of advice firms being pursued as lead defendants by the Financial Services Compensation Scheme (FSCS) in relation to Keydata sales.
The list - drawn up by the court in October - includes 17 firms, two of which have settled to avoid trial, and 15 of which will be pursued for trial at a later date unless they decide to settle beforehand. The firms were chosen on the basis of their ability to afford the case against them. They were chosen from a pool of 63 firms the FSCS is now actively pursuing for settlement, all of which have Keydata claims against them worth more than £100,000 but do not necessarily have insurance to cover the action against them. A case management conference (CMC) held on 7 November heard all...
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