View more on these topics

British Steel adviser applies to cancel all regulatory permissions

Record-Keeping-Insurance-Paperwork-Form-Contract-700x450.jpgOne of the advisers involved in the British Steel saga has applied to the FCA to cancel all of its regulatory permissions.

A note on the FCA Register shows Retirement & Pension Planning Services, based in Barnsley, applied to cancel its authorisation on 22 May.

FCA rules state a firm must stop carrying out regulated activities or plan to stop them within six months of applying to cancel authorisation.

A firm should also have paid all outstanding regulatory fees, filed any regulatory returns that are due and resolved any complaints against it.

Retirement & Pension Planning Services agreed to stop doing transfer work with the regulator in December 2017.

It is one of 10 firms that stopped transfer work on British Steel in agreement with the FCA.

The others are: Vintage Investment Services, West Wales Financial Services, Active Wealth, which has gone into liquidation, Pembrokeshire Mortgage Centre, Mansion Park, Bartholomew Hawkins, Inspirational Financial Management, County Capital Wealth Management and Acklam Financial.



Breakdown of claims against British Steel IFA revealed

The Financial Services Compensation Scheme has given a breakdown of the 29 claims it is processing over Active Wealth , data provided to Money Marketing shows. The lifeboat fund declared the firm in default at the end of March. In April Money Marketing revealed FSCS is pursuing nearly 30 claims against the firm. Active Wealth is well-known for […]


Pensions Regulator: We could have done more on British Steel transfers

The Pensions Regulator admits it could have done more to help British Steel Pension Scheme members understand the consequences of transferring out into defined contribution plans. In its response to the work and pensions select committee’s report into British Steel published today the regulator reflects on what it has learned from the saga. TPR says […]

Platforms best equipped to win retirement race

Platforms are the most likely players to flourish in the post-pension freedoms market, according to advisers polled by consultancy firm AKG. The online survey of 100 advisers conducted in March looks at how advisers are dealing with the opportunities and challenges of pension freedoms. It is one of three studies that forms part of a […]


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. Julian Stevens 7th June 2018 at 10:33 am

    Unless its principals plan to phoenix into another regulated entity, one wonders why they don’t just not pay their next round of regulatory levies and wait for the FCA to cancel all their permissions. It seems highly likely that, as a Ltd Co, their plan is simply to shut it down and dump all and any future liabilities onto the rest of us by way of the FSCS.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm