02 Feb Financial Advisers May Have to Foot Rockingham Bill

Financial advisers have been advised that they may end up having to foot the bill for Rockingham Retirement if the company is forced to wind up. Another Financial Services Compensation Scheme (FSCS) may be put into place according to New Model Adviser, which claims that discussions have already been held between Rockingham and insolvency partner Probitas. The discussions apparently related to liquidation of the firm and the potential for other acts of insolvency to be carried out. The FSA has also been involved in some discussions. However, when New Model Adviser contacted Rockingham about the meeting,  co-director Gary Forster commented "The allegation is untrue." Rockingham was fined £35,000 by the FSA last year for mis-selling collective investment schemes.