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...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes