FSCS set to distribute more to customers of Keydata Investment Services

10th September 2013

Some consumers who invested in Lifemark SA (Lifemark) backed products through Keydata Investment Services (Keydata) are in line for a distribution from the recoveries made by Financial Services Compensation Scheme (FSCS). FSCS has paid out hundreds of millions of pounds in compensation to Keydata customers.

Starting this week, payments will go to customers whose claims to FSCS for Lifemark backed products exceeded the full level of compensation. People who had more than £30,000 invested at the time of the failure will get additional payments amounting to up to 6.5% of their claim says FSCS.

The move follows FSCS receiving distributions of assets from Lifemark’s Trustee. You can find more information about payments and what they mean for claimants and the industry in the following statement.

Jargon Buster

  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).