Two British Steel advice firms under investigation
Companies are both in liquidation according to the FCA
British Steel
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Four more UK advice firms fail
Including two companies with links to the British Steel Pension Scheme
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IFA firms forced to withdraw ‘misleading’ offers to ex-BSPS members
FCA says it ‘will not tolerate this behaviour’ and ‘will take further action’
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More firms found to have misled British Steel workers about redress
Four bad apples trying to avoid paying appropriate compensation for unsuitable advice turn out to be at least 15
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FCA extends asset retention rules for British Steel advice firms
As it writes Dear CEO letter telling pension providers to comply with information requests
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IFA firms slammed for ‘misleading’ ex-British Steel members
FCA deems move a ‘deliberate attempt to exclude them from participating in the redress scheme’
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FCA threatened with referral to financial regulator watchdog
IFA blasts ‘repeated mistakes, delays and bad leadership’ that harmed thousands of British Steel workers
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FCA faces legal challenge over British Steel redress scheme
Regulator believes move is an ‘attempt to delay payment’
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Three more advice firms fail
A total of 83 claims have been filed with the FSCS, some related to the British Steel scandal
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UK advice firm in default for second time
FSCS backtracked on its original announcement in 2021
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‘Woeful’ British Steel IFA company fined £2.4m
It provided unsuitable pension transfer advice to both BSPS and other DB members
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FCA urges prompt action from British Steel PI insurers
To ensure the redress scheme ‘runs as smoothly as possible’