Keydata
18 April 2012
The Financial Services Compensation Scheme (FSCS) has begun proceedings against more than 160 advisory firms it alleges mis-sold Lifemark-backed Keydata products.
18 April 2012
A total of 162 firms have been included in proceedings launched by the Financial Services Compensation Scheme to claw back money paid out to investors in Lifemark-backed Keydata products.
18 April 2012
The Financial Services Authority (FSA) has been told by a judge that it must destroy privileged attorney-client emails it obtained as part of its investigation into Keydata.
22 February 2012
Keydata founder Steward Ford is seeking to ban FSA staff who saw protected attorney-client e-mails from being involved in an investigation into the company.
01 December 2011
The EEA Life Settlements Fund has suspended dealings, after receiving “unprecedented” levels of redemption requests from advisers and institutional investors.
11 November 2011
The Financial Services Compensation Scheme (FSCS) has begun reimbursing firms some or all of their share of a £326m interim levy after they successfully applied for a refund.
02 November 2011
The Financial Services Compensation Scheme (FSCS) looks set to stump up $10m to allow a controlled liquidation of Lifemark after the other main contender for a rescue of the fund pulled out.
17 October 2011
The Financial Services Compensation Scheme (FSCS) has put together a deal to provide liquidity for the Lifemark portfolio to rival a $150m loan offer brokered by Keydata founder Stewart Ford.
12 October 2011
Lawyers acting for the FSCS have sent IFAs who recommended their clients invest in Keydata - and who the FSCS has now paid compensation - letters of claim saying the scheme will pursue the firms for recovery of the money.
11 October 2011
Stewart Ford, the founder of Keydata, today won a landmark High Court judgment against the FSA when the judicial review he brought against the regulator concluded the FSA acted unlawfully in its use of legally privileged material in its enforcement investigation.
10 June 2011
The Investment Management Association (IMA) has called for an independent review into the collapse of Keydata and other investment firms and said the scale of recent failures has not been seen since the Barlow Clowes scandal of the 1980s.
04 May 2011
Scottish Widows Investment Partnership (SWIP) contributed more than £4m last year toward compensating investors in failed investment company Keydata.
02 May 2011
The Financial Services Compensation Scheme – often described as the lifeboat of the financial services industry – offers investors a life jacket if their savings and investments have been put at risk, but, following the collapse of Keydata, many product providers are questioning the fairness of the regime the scheme operates within.
06 April 2011
The FSCS will prioritise the fund management sector ahead of IFAs when it rebates the interim levy with any recoveries linked to Keydata.
30 March 2011
Norwich & Peterborough (N&P) has had its financial strength rating downgraded by Moody's, a week after the building society revealed it faces a £57m Keydata compensation bill.
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