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The Financial Ombudsman Service (FOS) has upheld two complaints about Integrity IFA’s advice involving unregulated investments in SIPPs and scolded the advice firm for ignoring both clients and the ombudsman.

A new survey has revealed that 99% of DB pension transfers clients move their money into SIPPs. 

The Financial Conduct Authority has warned two IFAs and a stockbroker that they face fines and regulatory action over their alleged role in a £5.9m SIPP pension transfer scam.

Pension transfer values briefly hit a new high in August as the FCA reviews potential redress for unsuitable transfer advice.

The FCA has provisionally fined pension transfer financial adviser Geoffrey Edward Armin £1.28m for a number of advice failings.

The ban on contingent charging and the pandemic have resulted in a major slump in pension transfers, according to new research.

Pension adviser Portal Financial Services LLP has shut its doors to new business following a string of complaints to the Financial Ombudsman Service, many brought recently by Claims Management Companies.

Nearly 70% of DB transfers went ahead when contingent charging was used compared to less than 28% when non-contingent charging was applied, according to a Freedom of Information request.

One in three high risk pension transfers since July 2018 would satisfy the first condition of the Department of Work and Pensions’ (DWP) proposed scam reduction legislation, according to a new report.

Andy Bell, CEO of platform and SIPP firm AJ Bell, has warned that proposed new anti-scam rules on pension transfers risk undermining thousands of legitimate transfers.

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