Compensation for Strand Capital to Start Paying Out

Some former clients of collapsed fund manager Strand Capital may soon start to receive compensation for any losses through the Financial Services Compensation Scheme. Strand Capital (which is now insolvent since May 2017) made investments on its clients’ behalf, and it is estimated that around 3000 clients have had their investments and pensions effected in…

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1 in 7 over 50 years old targeted by pension “scammers”. Did you transfer your pension?

Ever had a phone-call you weren’t expecting offering you “free pension advice” or a “free pension review”? Well according to a series of over 1000 Censuswide online interviews, around 14 per cent of non-retired over 50’s were approached about their pensions in the 3 months leading up to the survey, by companies offering either “free…

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Personal Touch Financial Services paying client compensation over Merco Bond investment

Financial advice firm Personal Touch Financial Services has been told by the Ombudsman to compensate their client “Mrs H” for unsuitable investment advice to invest in the Merco Bond. Mrs H was advised by a party working on behalf of Personal Touch Financial Services to invest £41,000 into the Merco Bonds, which promised high returns…

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US Prosecutors charge Beaufort Securities with Fraud

UK & US authorities teamed up to investigate Beaufort Securities Limited for “securities fraud” Beaufort Securities, which helped clients build collections of investments, has been charged with fraud by the US Department of Justice, following an investigation that involved multiple other “conspirator” firms/individuals, and an undercover sting involving a Picasso painting. The UK’s own financial…

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Carey Pensions identifies and separates problem SIPPs with letters to clients

SIPP administrator Carey Pensions has written out to some SIPP holders on its books to tell them that thei pension has been identified as “distressed”, and will be transferred to a new pension scheme: CPS2. The new scheme, includes “members with illiquid non-standard assets” – usually high-risk investments. Carey Pensions Writes to Distressed Clients The…

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Prominent MP calls for BAN on unregulated pension introducers

Frank Field, who currently chairs the Work and Pensions Select Committee has spoken out about what many consider to be a HUGE part of the pensions mis-selling scandal: Unregulated pension introducers that lead people into potentially unsafe, unsuitable or even “scam” pensions. What are unregulated pension introducers? You know those cold-calls you probably get asking…

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£13.7million to be repaid by just FOUR pension scammers after High Court justice

The Pensions Regulator has successfully won a High Court fight against not one, but FOUR pension scammers to repay nearly £14million over the next two years over the pension scam that they ran. Susan Dalton, Julian Hanson, Sammers David Austin and Alan Barratt lost the case on the 23 January, and other victims of scams…

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