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<p>The Financial Services Compensation Scheme's (FSCS) court proceedings against a large number of IFA firms in connection with the sale of Keydata Investment Services products are still continuing. To date, FSCS has settled claims with a number of defendants for a variety of reasons, the terms of which are confidential.</p><p>Since the Case Management Conference in the Lifemark and SLS proceedings in March, FSCS has selected six Lead Case Defendants (LCD) to advance defences in relation to a number of lead cases, which will give a representative set of investor claims to be heard by the court. Based on the current timetable, LCDs' defences are expected shortly. A further Case Management Conference is scheduled for February 2014.</p> |