Harlequin Property update: Investors face compensation delays

Update Harlequin 150pxHarlequin Property investors seeking compensation look to be facing additional delays after an announcement from the Financial Services Compensation Scheme (FSCS). According a notice published on their website, the FSCS has seen a significant rise in the number of complaints relating to Harlequin Hotels and Resorts, often referred to simply as Harlequin. The notice goes on to say that the FSCS can only pay compensation where it is “satisfied that authorised firms which have gone out of business are legally liable for any losses potentially suffered by Harlequin investors.” In news ...

Record amount of PPI claims made to the Ombudsman

Complaint formA massive 86% of all complaints made to the Financial Ombudsman Service (FOS), in the last six months, were regarding Payment Protection Insurance (PPI). Banks, as well as the Ombudsman service, have been handling complaints for PPI mis-selling for a number of years now, but despite this the number of complaints is still at a record high. The FOS handles cases where the complainant and the seller of the PPI product, cannot reach a satisfactory resolution to the case; over a quarter ...

200,000 pension investors could lose compensation

iStock_000024336538_ExtraSmallA report from MPs has revealed over 200,000 Equitable Life pension investors could miss out on compensation, because the redress scheme wasn’t publicised enough. The Commons Public Accounts Committee (PAC) has admitted some Equitable Life victims are now at greater risk of remaining untraced, as the Government has set an arbitrary deadline, for the compensation scheme to come to an end, of March 2014. The pension and investment firm, Equitable Life, failed in 2000, resulting in many investors losing significant amounts of their capital ...

RBS: Investors launch stinging attack

RBSInvestors have launched a stinging attack on the Royal Bank of Scotland (RBS) an action group has confirmed. Compensation A large group of investors of around 12,000 people have launched a stunning attack on RBS, which is set to cost the bank around £3.5 billion in compensation. Among the group of wealthy investors, 90 institutions are also suing the bank; these include charities, churches and private client brokers. The collection of investors believe they were lied to, to cover up the overall financial health of the bank before it ...