The UK's Financial Services Compensation Scheme (FSCS) has processed £113,000 in claims against Omega Financial Services. Omega was forced to close its pensions business by the UK regulator, the Financial Conduct Authority (FCA), in 2018. In July last year the FCA instructed Omega to halt any business involving activities relating to pensions or other investments, prohibiting the firm from recommencing transactions without the regulator's formal approval. To date the FSCS has paid out £113,000 on just four of the 32 claims the scheme has received. Subscribe to International In...
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