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 ...

Harlequin: SIPP investors win battle over former advisers

Update Harlequin 150pxA group representing investors into the beleaguered Harlequin property group have won a victory over the advisers who “facilitated” the investment into the unregulated investment. Acting on behalf of an investor, the Harlequin Investor Group (HIG), which is run by Regulatory Legal and represents over a thousand Self-Invested Personal Pension (SIPP) investors, has had a complaint against an adviser upheld by the Financial Ombudsman Service (FOS). SIPP transfers Investors into Harlequin property resorts and developments have been fighting an on-going battle to see a return on their investment for over ...

SIPPs: Hopes and fears for 2014

Our financial wish list  6 things we’d like to see change in 2014 150px2014 will be a big year for the self-invested pension industry; the Financial Conduct Authority (FCA) is due to release its final proposals for capital adequacy requirements for SIPP (Self-Invested Personal Pension) providers, further consolidation is expected, whilst the spectre of poorly performing unregulated investments continues to cast a cloud over certain providers. We’ve asked leading figures for their hopes and fears for 2014. What are the key issues? ...

Harlequin Property Update: Clients of TailorMade contacted by FSCS

Update Harlequin 150pxClients of TailorMade Independent, which heavily promoted investment into Harlequin Property, are to be contacted by the Financial Services Compensation Scheme (FSCS) to investigate whether they should receive compensation. TailorMade was a provider of SIPPs (Self-Invested Personal Pensions) and alternative investments, including Harlequin Property. Clients of the firm have had a rough ride over the past 12 months. TailorMade varied its regulatory permissions earlier in the year, so it could no longer advise on new pensions and entered liquidation in October, leaving investors hugely concerned over the future of their pensions. Since ...