The Treasury has forced a website to close over concerns the firm was passing itself off as the Government’s official Pension Wise guidance service.
The Financial Times reports pensionwisechoices.co.uk has been shut down after the newspaper alerted the Treasury and the FCA to the site’s existence.
The site’s domain name seems to have been registered on 13 January, the day after the Treasury revealed the guidance service underpinning pension freedoms was to be branded as Pension Wise.
Pensionwisechoices.co.uk also made references to the “new Government scheme guidance”.
The site was taken down on Monday afternoon.
The Treasury told the FT it would act sooner to “ensure consumers are not misled”.
It added: “We have reported this site to Action Fraud and the Advertising Standards Authority, as well as taking steps to stop them from using that website name.
“If the site remains in its current form when the new legislation comes into effect its owner is likely to face sanctions under the new criminal offence.”
In a statement to the newspaper, pensionwisechoices.co.uk said: “If there has been any misunderstanding caused by our website, we apologise.
“It was our intention to provide a link between the general public seeking independent pensions advice and independent financial advisers that are regulated by the FCA.
“To ensure no member of the public is unintentionally misguided, we have removed the domain from general view with immediate effect. Based on the concerns that have been mentioned, we will appraise the look of the website and consider our options from here.”