FSCS to pursue precipice bonds providers for £30 million
The Financial Services Compensation Scheme (FSCS) is pursuing precipice bonds providers for up to £30 million. The FSCS is in the process of recovering the compensation paid out to investors who had successful claims against IFAs firms that went into insolvency as a result of the mis-selling.
“While we cannot comment on specific recovery actions we can confirm that we are pursuing recoveries in relation to compensation payments made for the mis-selling of precipice bonds,” a spokeswoman at FSCS told SP Extra. To date, FSCS has made compensation payments totalling in the region of £30 million in relation to precipice bonds.
Billions of pounds of precipice bonds were sold between January
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