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What is a non-standard asset?

FCA probes SIPP providers about number of non-standard investments – what does it mean for your pension?

10/17/2017

Has high-complaints driven the FCA to weigh up options about mis-sold pensions? Regulator asks SIPP providers to show their cards Non-standard investments focal point on investigation What IS a non-standard Investment? Could you be effected? The Financial Conduct Authority has asked all providers of Self-Invested Personal Pensions (SIPPs) to reveal the details of any non-standard … Continued

Designed 4 Life Ltd data bought by previous directors as claims continue

10/17/2017

Former directors of Designed 4 Life Ltd buy client data from liquidator Can old client’s expect a call? FSCS pays out over £500k for Designed 4 Life Advice Phoenixing? Are you entitled to make a claim? The former directors of liquidated advice firm Designed 4 Life have bought the company’s client data from the liquidator, … Continued

Beaufort wing to cease to accept new monies or assets

09/11/2017

The list of FCA restrictions to Beaufort operations seems to be growing Beaufort Asset Clearing Services Limited is the latest section of Beaufort to have restrictions added to it’s FCA register record, in this case meaning that the Asset Clearing wing must “cease to accept new monies or assets”, including from either “new or existing … Continued

can we close the loop-hole on pension cold-calls

Collapsed Strand Capital declared in DEFAULT with the FSCS

09/07/2017

This means that the FSCS is convinced that the DFM can’t pay claims made against it The Financial Services Compensation Scheme has declared that Discretionary Fund Manager, Strand Capital, is now in default and cannot pay claims to clients or former clients. It also means that the FSCS is likely to have to step in … Continued

Medical and Professional Financial Management in Default with FSCS

09/07/2017

The same firm was ordered to pay a client compensation by the FOS for mis-selling investments through SIPPS A new list of 17 advice firms who have been declared “in default” with the FSCS has been published via a press release, featuring Medical and Professional Financial Management, an Edinburgh based firm that is no-longer authorised … Continued

Gleeson Bessent: Insolvency Services shuts down TWO pension trustee firms following investigation

09/04/2017

Gleeson Bessent Trustee Services and Gleeson Bessent Trustees offered high-risk investments to ordinary investments as part of their pension schemes. Following an investigation by the Insolvency Service, the High Court has wound-up two pension trustees which administrated over 9 different pension schemes, all of which were occupational, including Focusplay Retirement Benefit Scheme, as well as … Continued

DFM

Organic Investment Management DFM told to re-submit company accounts!

09/04/2017

The DFM’s auditor had a shareholding in the firm, as well as a pension scheme! Organic Investment Management, which had it’s FCA permissions restricted earlier this year so it can no longer accept new money, has now been told to re-submit it’s 2016 accounts, after it was revealed that accountant Roger Bessent “had a stake” … Continued

Why is the government banning cold-calls about pensions?

08/21/2017

It’s not just because they’re a nuisance The UK government is getting ready to BAN the practice of cold-calling in an effort to curb the huge increase in mis-sold and fraudulent pension schemes and transfers. While not all mis-sold pensions involve a cold-call from a marketing company, many do, as high-risk pension arrangements such as … Continued