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 ...

SIPPs: Warning for investors as complaints rise

SIPPs: Warning for investors as complaints riseThe Financial Services Compensation Scheme (FSCS) has reported a rise in the number of complaints relating to SIPPs (Self-Invested Personal Pensions) and at the same time has issued a warning to investors. The FSCS compensates investors for poor advice, when a complaint is upheld, but the original adviser is no longer trading. Figures released this week show that complaints relating to pensions and investments are up 15% over the past year. The FSCS has said the increase is down to the number of complaints relating to ...

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 ...

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 ...