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Good morning to all, some FSCS advice needed please....
In 2018 the FSCS awarded me the then maximum capped SIPP payment OF £50,000 v the now failed Stadia trustees Ltd. At that point in time the FSCS confirmed that I still had £47,500 in FSCS confirmed uncompensated losses and I still have these today.
At the start of this year the FSCS confirmed that they were then to invite and consider claims under section 27 OF the FSMA 2000. This linked in part to Stadia trustees and the unregulated introducers who first contacted me in late 2011.
On the surface I assumed that I therefore had a clear valid claim. The fly in the ointment was that the FSCS stated that they would only consider claims where the FSCS award was made AFTER the 1st of April 2021. Despite this I submitted my application, rather as expected I was rejected due to the cut off date given.
Not understanding the significance, I appealed against this decision AS I could see the FSCS had not even mentioned my uncompensated losses. Two months ago and to my surprise, the FSCS were then revisiting my initial rejection due to my uncompensated losses, interesting to say this is still with their complicated claims unit today.
Q's please.....
a. Do you think that my previously confirmed uncompensated losses create a linked claim TO section 27 that bypassss the cut off date given?
b. If so, do you consider that such a claim will be considered just TO the value of the uncompensated losses OR willthis be TO the full potential value of my pension?
Many thanks in advance.....
John.
In 2018 the FSCS awarded me the then maximum capped SIPP payment OF £50,000 v the now failed Stadia trustees Ltd. At that point in time the FSCS confirmed that I still had £47,500 in FSCS confirmed uncompensated losses and I still have these today.
At the start of this year the FSCS confirmed that they were then to invite and consider claims under section 27 OF the FSMA 2000. This linked in part to Stadia trustees and the unregulated introducers who first contacted me in late 2011.
On the surface I assumed that I therefore had a clear valid claim. The fly in the ointment was that the FSCS stated that they would only consider claims where the FSCS award was made AFTER the 1st of April 2021. Despite this I submitted my application, rather as expected I was rejected due to the cut off date given.
Not understanding the significance, I appealed against this decision AS I could see the FSCS had not even mentioned my uncompensated losses. Two months ago and to my surprise, the FSCS were then revisiting my initial rejection due to my uncompensated losses, interesting to say this is still with their complicated claims unit today.
Q's please.....
a. Do you think that my previously confirmed uncompensated losses create a linked claim TO section 27 that bypassss the cut off date given?
b. If so, do you consider that such a claim will be considered just TO the value of the uncompensated losses OR willthis be TO the full potential value of my pension?
Many thanks in advance.....
John.