‘Ghost brokers’ haunting the insurance market
29 October 2024
This Halloween beware of ‘ghost broker’ deals that are too good to be true or risk being scammed by fraudsters.
We are aware of the recently announced news that Berkeley Burke SIPP Administration (BBSAL) has gone into administration.
The Financial Services Compensation Scheme (FSCS) deals with compensation claims when financial firms go out of business. The FSCS can only consider customers’ claims against a firm if it is satisfied that the firm is not in a position to pay those claims itself. As Berkeley Burke is in administration, the FSCS is now accepting claims against BBSAL.
If you already have a claim with the Financial Ombudsman Service, you don’t need to take any action at the moment. We will no longer progress existing complaints against BBSAL and will be in touch with you in due course with further information about passing your complaint to the FSCS. When the FSCS receives your file, it will contact you directly to ask you to submit your claim. There should be no need to submit all of the claim documents again.
There is more information on the FCA’s website.
29 October 2024
This Halloween beware of ‘ghost broker’ deals that are too good to be true or risk being scammed by fraudsters.
24 October 2024
The number of financial complaints we received in the first half of 2024 rose by over 40%.
23 October 2024
Not understanding the rules around ‘Section 75’ claims could affect consumers’ chances of getting their money back.