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IFA fined for pensions review failings

The PIA has fined IFA EIC Investment Services Limited of Marchmont House, 83-85 Marlowes, Hemel Hempstead, Hertfordshire £10,000 for pensions review failings.

The firm has also been ordered to pay the regulator&#39s costs of £2,126. A visit by the PIA in May 1999 identified a series of regulatory failings including not completing corrective action promptly, not assessing its starting population, not maintaining adequate records of its pensions business and failing to conduct adequate compliance assessments.

This is the 16th time this year the PIA has taken disciplinary action related to the pensions review.

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