View more on these topics

Money Portal subsidiary GP Noble in Serious Fraud Office investigation

The Serious Fraud Office is investigating Money Portal’s pension trustee subsidiary GP Noble.

This follows a move by the Pensions Regulator to suspend and replace GP Noble as independent trustees on a number of schemes due to “concerns”.

A spokeswoman from the SFO confirmed that it is investigating GP Noble and so far three arrests have been made, but the men aged 40, 47 and 51 have since been released without charge.

The SFO said search warrants had been executed yesterday with the assistance of Nottinghamshire and City of London Police on three residential and two business addresses in Nottingham, Suffolk and Surrey.

Money Portal suspended GP Noble’s executive directors Gary Cordell and Graham John Pitcher several weeks ago following its own investigation.

A statement by the Money Portal board said: “Prior to the SFO investigation, we conducted our own investigation of the conduct of the two executive directors of GP Noble and suspended them from their duties several weeks ago.

“We shall do all we can to ensure that justice is done and will cooperate fully both with this inquiry and with the Pension Regulator, whose actions we fully support.”

Money Portal is unable to comment further while the investigation is underway.

The Pensions Regulator said in a statement that member’ benefits were not at risk.

It said: ”We can confirm that the Pensions Regulator decided that it was appropriate to suspend GP Noble, and replace them as independent trustee, from a number of schemes. This was due to their actions in relation to certain schemes giving cause for concern.

“As these matters are subject to an ongoing investigation, and details of the case restricted information under the Pension Act 2004, we are unable to comment further at this time.”


Surprise element

For those of you who believe it is only our Government which is on its way to becoming a nanny state, I would like to draw your attention to plans in Germany to ban the seemingly inoffensive Kinder Surprise chocolate egg.

Telly Vision

It is easy to follow the herd. After all, the boom was evidence of how hype can overcome reality. The internet has enabled much in the world of communication but it has also destroyed or held back the development of alternatives seen as no longer necessary.

Neptune video: Indian valuations and Modi’s pro-investment agenda

Kunal Desai, Head of Indian Equities, discusses his expectations for the Indian market and highlights the key indicators that he is watching for 2015.

In the video, Kunal addresses:

• Indian equity valuations and the importance of stock selection in gaining exposure to the earnings upgrade cycle

• The BJP’s strengthening ambition in its pro-reform, pro-investment agenda


News and expert analysis straight to your inbox

Sign up


    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