FSCS receive 2,000 claims against SIPP firms

FSCS receive 2,000 claims against SIPP firms

The Financial Services Compensation Scheme (FSCS) has received more than 2,000 claims for compensation from customers of two failed SIPP providers. Berkeley Burke and Liberty both received pensions transferred from other schemes and then invested them in high risk, non-standard investments which later failed. Outstanding claims Now both companies have themselves failed and the outstanding …

FSCS takes on Berkeley Burke Sipp claims

FSCS takes on Berkeley Burke Sipp claims

The Financial Services Compensation Scheme (FSCS) is to take on claims against Berkeley Burke after the firm’s administrator sold the Sipp arm of the business to another pension provider. The Financial Conduct Authority (FCA) has made it clear that the sell-off does not affect any other company in the Berkeley Burke Group. Under pressure The …