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On Friday 29 th July Hartley Pension fell into administration, the firm has been under investigation by the Financial Services Compensation Scheme (FSCS). The firm also trades under Recovery SIPP, Resolution SIPP, and Hubwise Hartley SIPP. The FCA had...
Rikki Nicholls and Mark Kelly have been sentenced to six years in prison for pretending to be financial advisers. The two men ran an unregulated business together that defrauded over 250 clients. The pair facilitated placing £22m of pensions funds into...
Hartley Pensions has had another FCA ban preventing it from accepting ongoing contributions into self-invested personal pensions (SIPPs) and self-administered pension schemes (SSAS). It has been reported the Sipp firm has serious operational and...
It’s been reported that Vintage Investments Services have proposed a partnership voluntary arrangement. The firm is on the brink of collapse after it fell into trouble over mounting pension transfer claims relating to the British Steel Pension Scheme. ...
New guidance has been released from Fertility Matters At Work an organisation which set up by three women who have had a career working in HR and reflect on their own personal fertility journeys. The guidance has been put together for employers to support...
Across the country, thousands of people call in sick each year due to illnesses. Depending on the severity absence from work can range from a few days, a week, or months. A sick note is required if the employee is absent for more than 7 days, sick note is...
The FCA has been challenged by The Personal Finance Society (PFS) over their approach to compensating British Steel Pension Scheme (BSPS) members. The PFS has reported that the FCA’s assessment tool process is not sophisticated enough. It has been...
The Financial services Compensations Scheme have upheld 25 cases against Wellington Court Financial Services after it was discovered the firm gave unsuitable pension transfer advice. On Wednesday 22 nd June 2022, the FSCS said it intended to work...
Citywire has reported that the Financial Conduct Authority (FCA) has invited around 300 advice firms to a discussion regarding the British Steel redress scheme (BSPS). The roundtable will be held virtually on 27 th and 28 th June. The group is made...
The Financial Services Compensation Scheme (FSCS) has said the limit people can claim for the loss of their pension should rise closer to £375,000. Currently, clients of collapsed pension firms can only claim up to £85,000 from the lifeboat...
It was good to attend the annual Chartered Institute Of Tax dinner at the Crowne Plaza in Liverpool last night and catch up with many fellow professionals we haven’t managed to see for many years. We were particularly honoured to be joined by Brian...
On 17 th March 2022, Heritage pensions Ltd was placed into liquidation. Directors of Heritage appointed Paul David Williams and Edward Robert Bines of Koll Advisory as joint Liquidators. The FSCS is investigating the SIPP administrator to see if there are...
On 19 th April 2022, in the case of Adams v Options, the Supreme Court refused the SIPP operators application for permission to appeal and as such there will be no further consideration of this case by the Courts. With the uncertainty that followed the...
The Upper Tribunal found five advisers guilty of not scrutinising where pension funds were being invested. The FCA has banned the five former advisers for their role in a pension switching scheme into high-risk investments which led to funds being...
The Supreme Court has finally given its decision and denied permission to appeal in the long-standing Adams v Carey Pensions case. The case attracted industry-wide interest around SIPP provider obligations when accepting investments....
Sipp provider Heritage Pensions entered liquidation on 17 th March after its directors became insolvent. Four upheld complaints were published by the FOS each determined Heritage should have to pay the maximum fair compensation award of £150, 000. ...
AJH Financial Services, an IFA firm based in Swansea who gave pension transfer advice to British Steel members has come under the regulatory spotlight once again. On the 14th February, an alert was published by the regulator raising the concern that AJH...
Sipp firm Corporate and Professional Pensions who are based in Weymouth have fallen into administration after they were unable to pay a string of Financial Ombudsman Service (FOS) decisions upheld against it. The most recent complaints related to...
PurpleBricks could have to pay £30m in compensation after putting landlords at risk of being fined. The company’s share price has plummeted over 20 percent following the news. In a statement this morning Purplebricks announced it was delaying...
FSCS’s lifeboat fund said a significant proportion of its pay-outs are over poor advice. The FCA have reported suggesting they axe investment advice from FSCS’s remit. The FCA states poor advice is the main reason for the soaring high complaints...
The Financial Services Compensation Scheme (FSCS) has paid out £4.7m in respect of Total Wealth Solutions, a collapsed IFA that advised clients to invest their pensions in a fraudulent Brazilian forestry scheme. In 2017 the Bedfordshire- based firm...
The FCA has been accused of unlawfully changing its complaints scheme “via the backdoor” to avoid paying compensation. Last year the Financial Conduct Authority published guidelines that said consumers would only be entitled to compensation when...
Reports have been published highlighting the reasons for auditors resigning from the High Street Group after compiling the company’s accounts. Accountants PwC stood down as auditors of High Street Group - the developer behind Hadrian’s Tower in...
Ombudsman backs client after TenetConnect failed to give her suitable advice. The individual who is known as Mrs L to protect her identity raised the claim with FOS after unsuitable advice caused her to pay tax that she felt could have been avoided. Mrs...
The UK government have set out a long-awaited Heat and Building strategy to set out a road map on how we can decarbonise our homes. Part of the strategy includes grants to help people replace their boilers with air-source heat pumps. The current cost for...
It is believed that the number of advice firms being investigated as part of the British Steel Pensions Scheme (BSPS) probe has increased in the last month. Around 40 firms are now under FCA enforcement investigation over advice given to steelworkers in...
Self-invested personal pension (SIPP) provider ForthPlus Pensions has entered administration after failing to secure continued professional indemnity insurance (PII). Forthplus had around 2,500 customers which were predominantly in the UK. The company...
850 footballers are demanding compensation from 17 firms after players performance information was published without their consent. Data like the players, height, average goals per game, which the players do not receive any payment for. Under article 4 of...
Provident Financial has set aside £50m to repay customers who were sold unaffordable loans. Customers will not get all their money back as the court has agreed on a compensation scheme with the firm to ensure that it does not go into liquidation. Why...
Once again, the hapless consumer is paying the price for the greed of others, but consumers have been paying more for their energy than they should have for many years. Secret Commissions If you or your business swapped energy suppliers, especially by...
A global surge in wholesale power and gas prices has shocked the world, this could see major energy companies go bust. Many households may be looking to switch to a new energy supplier on a cheaper tariff, however, please be aware of the hidden commissions...
Our client was wrongly advised by St Pauls Marketing Limited (an Appointed Representative of Alexander David Securities Limited) to transfer her pension to a self-invested personal pension (SIPP) and invest in an unsuitable investment. Our client was cold...
David Smith, Legal Executive at Smooth Commercial Law has been dealing with a case for over a year for a client who was wrongly advised on their pension investments. Negligent advice was provided by an IFA to our client to instruct them to transfer their...
We’ve been celebrating some victories for clients this month with an end to some quite protracted negotiations with insurers and their agents on our client’s BI claims. Louise Burns-Lunt our in-house chartered accountant has been handling the...
Our clients invested into Dolphin Trust, later known as German Property Group, in 2017. They did so by purchasing a loan note for £20,000.00 following advice from Active Wealth (UK) Limited. The Dolphin Trust, now known as The German...
The Deregulation Act 2015 (the “Act”) received Royal Assent on the 26 March 2015 and amended provisions in both the Housing Act 1988 (“HA 1988”) and the Housing Act 2004 (“HA 2004”). The Act introduced a number of...
According to Zurich's latest SME Risk Index, over half of Britain's SMEs have problems with late payment, with £225bn in unpaid invoices . These figures highlight the common problem of late payment. Unpaid invoices can have severe...
The recent Court of Appeal decision in the case of Cardiff County Council v Lee held that the Court's permission is required to issue a warrant for possession on a Suspended Possession Order ('SPO'). Previous process to request a warrant ...
