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FCA warns over unauthorised British Steel-area firm

File image of Welders at work in steel forgeThe FCA has published a warning about an unauthorised firm based in Port Talbot that has been targeting consumers.

The FCA says it believes the firm, called Talbot Review Centre, has been undertaking regulated activities that require authorisation.

Port Talbot has been at the centre of the British Steel Pension Scheme scandal, which has now seen two financial advice firms go into liquidation.

The FCA says in the warning notice: “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. However, some firms act without our authorisation and some knowingly run investment scams.”

It adds: “This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

British Steel adviser Retirement & Pension Planning Services recently went into liquidation and followed advice firm Active Wealth, which went into liquidation in February.

Those two firms were among 10 that stopped transfer work on British Steel in agreement with the FCA.

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

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  1. Julian Stevens 18th July 2018 at 1:17 pm

    Just what regulated activities exactly? As an unregulated entity, TRC cannot place any business. All it can do (as it’s claimed elsewhere) is refer clients to a regulated firm.

    In light of the recent furore over regulated firms accepting referrals from unregulated introducers, I imagine TRC may well have difficulty finding any firm willing to play ball.

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