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.…

Enquiries about SIPP and pension transfers increase AGAIN, says Ombudsman

Are you sat on a SIPP complaint? The FOS (Financial Ombudsman Service) has published figures that show a 59% increase in enquiries relating to Self-Invested Personal Pensions (SIPPS) in Q1: April – June 2017, along with a rise in complaints regarding pension transfers. The service which has the power to force companies to pay clients compensation…

Are SIPP providers about to topple

4 SIPP providers fail FCA’s new rules on Capital Adequacy; what next?

Four regulated providers of Self-Invested Personal Pensions (SIPPs) have failed the Financial Conduct Authority’s new rules regarding Capital Adequacy, it has been revealed through a Freedom of Information request from New Model Adviser. The rules laid out by the financial services regulator, the FCA, became legitimate on 1 September 2016, and mean that those providers…

The Sun tears into Ethical Forestry again, following announcement of Serious Fraud Investigation

A year after The Sun’s Kelvin Mackenzie went in on Ethical Forestry director Matthew Pickard, the paper has waded in again as the SFO announced an open investigation into the underlying investment, and 3 warrants were executed in relation to it. After explaining the “terrible scandal in which ordinary people lost their entire pension pots”, the often…

Serious Fraud Office Ethical Forestry

Serious Fraud Office opens investigation in connection with Ethical Forestry – March 2017

SFO announcement comes after police warrants executed in the South of England On the 8th of March 2017, the Serious Fraud Office announced an open criminal investigation with connection to Ethical Forestry Limited and its associated companies following allegations involving a “fraudulent investment scheme”. The short SFO statement on their website states that the allegations…

GFI investors told to make a claim

Global Forestry Investments in the news as 70 investors are told to make a claim

The trustee of Green Retirement Pension Plan has told over 70 pension scheme members to look at making a claim for bad advice against their IFAs over their Global Forestry Investment schemes, it has been reported. Jonathan Purle took over for the Defined Contribution scheme back in 2016, and for those scheme members who have…

IFA no-longer authorised was found at fault in 4 cases by the Ombudsman

Cheshire-based R W Harris Limited, an IFA that was previously authorised by the FCA under number 143856, had 4 Financial Ombudsman complaints against it upheld between July 2014 and April 2016, it has been revealed. All 4 of the complaints revolved around investments advised on by R W Harris Limited, some of which it is…

Damage report for ethical forestry investment

At least 2 Ethical Forestry plantations described as suffering “severe-total” damage after Hurricane Otto

A further 3 Ethical Forestry plantations remain “unverified” on the damage report A new letter from the liquidators of Costa Rican tree investment, Ethical Forestry, provided an outline of the damage to each plantation, and said photographs from the drone footage will be uploaded shortly. The damage report, which the letter (dated 15 Feb 2017)…