Stricter rules needed to tackle pension scams
The majority of UK adults want stricter rules put in place to ensure their pension pots are secure, according to research by the Pensions and Lifetime Savings Association (PLSA).
Author: Tom Carnegie
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Director banned from financial services for five years
The director of a financial services firm has been suspended from the industry for five years, and has agreed to pay £225,786, after his business failed to give appropriate advice to its clients.
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PEOPLE MOVES: Jupiter, HSBC and Clyde & Co
Jupiter Asset Management appoints a head of multi-asset strategy, Clyde & Co expands its Middle East operation and HSBC hires a managing director for Sweden.
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Lifeboat scheme opens door to British Steel IFA firm claims
Customers of now-liquidated IFA firm Active Wealth, which was at the centre of “questionable advice” given to British Steel Pension Scheme (BSPS) members, may soon be able to make claims against the company.
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S Africa advisers want ‘cool heads to prevail’ post-Zuma
The resignation of South Africa’s embattled president Jacob Zuma is a positive step for the country’s economy, but advisers warn the change of guard does not guarantee success for the struggling nation.
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Convoy freezes former directors British Virgin Islands assets
The former director of troubled Convoy Global has had his assets on the British Virgin Islands frozen, with the firm also filing a writ against him and 12 others, demanding they pay £16m in compensation.
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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?
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Bitcoin to become ‘significant feature’ in modern day divorce
The rise of cryptocurrency, and in particular Bitcoin, means divorcing couples may use the currency to hide their wealth from one another, warns a family law expert.
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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.
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IFA linked to British Steel pension transfers goes under
IFA firm Active Wealth has gone into liquidation, four months after it was suspended from taking on new clients after the UK regulator raised concerns it gave “questionable advice” to British Steel Pension Scheme (BSPS) members.
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Australia sets up financial complaints authority
A financial complaints authority has been established in Australia to deal with dispute resolutions, a move praised by the country’s securities and investment commission (Asic).
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Hong Kong authorities raid company connected to Convoy
Hong Kong’s anti-graft body and market regulator have joined forces to raid the office of Town Health International Medical Group, a company that has strong ties to the embattled financial advisory firm Convoy Global.