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Welsh financial adviser hit with £2.4mn penalty for ‘woeful’ guidance to quit defined benefit schemes
Improvement in annuity rates slashes money needed for compensation linked to British Steel Pension Scheme
Financial Conduct Authority ‘failed’ to protect British Steel Pension Scheme members from ‘unscrupulous advisers’, report finds
FCA issues order to stop advisers from offloading assets to avoid paying compensation
Advocates describe regulator’s proposal as ‘compensation on the cheap’
Spending watchdog to assess how FCA oversaw transfers by thousands of steelworkers
MPs call for inquiry into financial regulator as workers count the cost of bad advice
FCA does not routinely check whether guidance is followed on payouts for unsuitable transfer advice
Thousands of former British Steel Pension Scheme members in Port Talbot are eligible for compensation
Geoffrey Armin ‘disregarded’ information in directing clients to transfer out of scheme
Compensation scheme’s information led to lost compensation, it is claimed
FCA may invoke rarely used powers to help thousands of former British Steel workers given unsuitable advice
Letters sent to clients of IFAs who have since gone bust
Payouts uplifted in 126 cases, totalling £1.5m
Treasury to pay bondholders who lost savings when minibond company collapsed
Rise of 48% in FSCS levy for 2021-22 prompts calls for government action
FCA data showing transfers under banned charging model adds to mis-selling fears
Regulator has opened fewer than 70 mis-selling inquiries
Financial watchdog finds number of customers advised to transfer out is still ‘unacceptably high’
Last-ditch adverts reached 32m people in UK and prompted rush of claims
Flood of claims lodged with Financial Ombudsman Service after customers dispute banks’ rulings
Calls for City regulator to contact 160,000 people in fears over fresh mis-selling scandal
Professional Personal Claims is handed £70,000 penalty for misleading branding and flawed claims
The UK financial regulator meted out nine £10m-plus levies this year
Protesters accuse the UK’s financial watchdog of inaction
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