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Directors disqualified over fine wine investment scam

Two company directors have been disqualified for a combined 20 years after running a fine wine investment scam that lost investors nearly £1m. An Insolvency Service investigation found that Crimson Fine Wines cold-called customers and then did not purchase or allocate wines to those who had paid for their investments. The investment scheme offered investors […]

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AJ Bell wins Sipp charges complaint

AJ Bell has won a case against a client who wanted his platform fees for the past 14 years reduced. A client, referred to as Mr N, complained to the Pensions Ombudsman that, because he did not have enough information about what fees would be payable, he sold a property holding in his Sipp far […]

Foster Denovo makes acquisition to kick off growth push

National advice firm Foster Denovo has acquired employee benefits consultancy TEBC. The deal brings over 100 corporate client relationships, and Foster Denovo will look to build TEBC’s staff into its own employee benefits division, Secondsight. Foster Denovo says the deal is the first in an acquisition strategy it will be pursuing. Chief executive Roger Brosch […]

Treasury under fire for lack of diversity at Bank of England

The committee wants answers on the gender divide of the Bank of England’s committees The influential Treasury select committee has threatened to stop endorsing appointments to the Bank of England unless the Treasury starts nominating a more diverse range of candidates. Chair Nicky Morgan has written to Chancellor Philip Hammond demanding the Treasury publish the […]

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Former SJP adviser jailed after gambling clients’ money

A former St James’s Place adviser has been jailed after defrauding clients of more than £840,000 over three years. Mark Pickering was discovered to have used client money to place bets at Betfair, which the gambling business discovered after checking its records. Pickering ran up a total of £1.1m gambling losses. Judge James Sampson, of […]

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FCA advisers point to ‘regulatory overload’

The panels that advise the FCA have told it that ‘regulatory overload’ is an issue for firms. The regulator has four expert panels that advise the FCA on issues affecting groups including small businesses, markets and consumers. Responding to the annual reports of the panels today, the FCA noted that “regulatory overload” was identified as […]

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Triple lock criticised for increasing intergenerational unfairness

A Centre for Policy Studies report claims former deputy primer minister Nick Clegg’s insistence on the state pension triple lock policy was a driver in increasing intergenerational unfairness. The report says that, since 2010, welfare spending on pensioners has increased by 10 per cent in real terms but is down by 5 per cent for […]