British Steel
Lifeboat scheme U-turn over British Steel mis-selling scandal
FSCS offers additional compensation to those ‘let down’ by Active Wealth
FCA keeps ‘unsuitable’ DB transfer assumption
The Financial Conduct Authority (FCA) has backtracked on a proposal to change its position that an adviser should assume that a Defined Benefit (DB) pension transfer is “unsuitable” for a client.
Best Practice | 26 Feb 18
Public IFA register resurrected amid British Steel scandal
In a move that comes too late for scammed British Steel Pension Scheme (BSPS) members, the Financial Conduct Authority has announced a consultation on a public register of approved financial advisers and other industry professionals.
Best Practice | 15 Feb 18
How was the British Steel pension scandal allowed to happen?
A damning report from the UK’s Work and Pensions Committee has blasted the actions of some financial advisers who acted like “vultures”, and who “bamboozled” British Steel Pension Scheme (BSPS) members, raising questions about how this could happen in a post-RDR world?
Steel workers fed sausage and chips in pension transfer bid
A company that introduced British Steel Pension Scheme (BSPS) members to the now-collapsed IFA firm Active Wealth offered “sausage and chips” meals in meetings heavily geared towards pushing transfers on them, according to a damning Work and Pensions Committee report released Thursday.