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Beaufort securities claims news and update

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 … Continued

Ban cold-calling about pensions

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 … Continued

number of unsuitable british steel pension transfers

Transferred your British Steel Pension? As many as 1in3 may have been mis-sold


Has your pension transfer away from BSPS put you at hidden risk? The Financial Conduct Authority has released some data from it’s urgently conducted check on financial advisers who advised British Steel Pension Scheme members about their pension, and the news doesn’t look great… Of the 129 cases the regulator has looked at so far, … Continued

FCA targets

Why is FCA is targeting Financial Advisers that recommend high-risk investments?


The FCA may be refocusing their attention on certain financial advisers FCA to look into advisers recommending high-risk investments What is a UCIS? Why does it matter? FCA Director of Policy David Geale has said that financial advisers that recommend unregulated investments could be in the regulator’s scopes from 2018. The Financial Conduct Authority has … Continued

increase in sipp complaints

Financial Ombudsman confirms 76% rise in SIPP related complaints


More mis-sold SIPPs on the horizon? FOS data adds to mounting evidence of a pension mis-selling scandal 49% of complaints upheld The FOS has released figures showing a 76% increase in complaints regarding SIPPs for the period between July and September 2017 when drawing a comparison to the same time in 2016. Following the upwards trend … Continued

Report risky investments to FCA

FCA: Advisers to report “risky” product recommendations


The FCA seems to have had enough of people ending up in risk investments New requirements for advisers as FSCS compensation pays out £105m FSCS funding levies considered What it means for investors The Financial Conduct Authority will be asking all independent financial advisers to report when they recommend potentially high-risk investment products to clients. … Continued