View more on these topics

TPR to probe accountant in inaugural fraud prosecution

House-Dice-Coin-Symbolising-Risk-in-Mortgage-Market-700.jpgThe Pensions Regulator has launched its first fraud prosecution over a Preston-based accountant suspected of stealing money from client pension funds.

Accountant Roger Bessent is accused of transferring over £200,000 into his personal account and accounts of companies he controlled.

Some pension scheme funds were also transferred from the Focusplay Retirement Benefit Scheme, a sponsoring employer of Bessent’s firm, Gleeson Bessent Trustees.

Companies House files show Bessent was a director at GBT until 22 November 2017.

He is charged with making employer-related investments and with fraud, marking the first case of prosecution from TPR for these offences.

The regulator says the abuse of position carries a maximum 10 years imprisonment.

Recommended

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg
102

How much are advisers charging for pension transfers?

Defined benefit pension transfer charges are being put under the microscope again as the regulator turns over more potential conflicts of interest. With the British Steel Pension Scheme the latest to dominate headlines and the FCA ready to interrogate further as it extends its review to include all firms authorised to give pension transfer advice, […]

Invest-Performance-Portfolio-Fixed-Income-Graph-700x450.jpg

Pension transfer values drop in November

Pension transfer values fell by 2 per cent in November, according to consultancy XPS Pensions Group. At the end of October 2018 the group’s transfer value index was £235,000 and at the end of November it was £230,000. The index tracks the transfer value that would be provided by an example defined benefit pension scheme […]

AJ Bell shares jump 25% on IPO

Investment platform provider AJ Bell’s shares have jumped 25 per cent after listing on the London Stock Exchange this morning. The price per ordinary share was set at 160 pence, making the firm’s market capitalisation approximately £651m at the beginning of conditional trading. By 8.30am shares had hit 205 pence. The Manchester-based company is floating 108,264,032 ordinary shares, […]

Malcolm McLean: How to make pensions system fairer for women

Male and female state pension ages have finally equalised but the same cannot be said for the retirement incomes they receive Although the age at which men and women can claim the state pension has now equalised, the same cannot be said about the overall levels of pension income the different genders receive. Historically, women […]

Highlight the tangible benefits of protection through value-added support services

Many clients aren’t aware that their protection policy can give them access to practical and emotional support for coping with bereavement or serious illness. Such additional services can really add value, and help your clients see the tangible benefits of protection. Scottish Widows Care comes with every protection policy at no extra cost and is […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com