RegulationSep 14 2021

FSCS uncovers 400 adviser phoenixes at CMC firms

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FSCS uncovers 400 adviser phoenixes at CMC firms
Caroline Rainbird, chief executive at the FSCS - Credit: Carmen Reichman

The Financial Services Compensation Scheme has alerted the regulator to 412 phoenixing cases, where advisers who worked at firms that defaulted had joined a claims management company to bring claims against their previous firm. 

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