The High Court has ordered illegal pension introducers Avacade, Alexandra Associates and their directors to pay compensation to consumers.
The High Court ruled in favour of the FCA in a civil action against two firms and their directors who induced clients to transfer their pensions in SIPPs and alternative investments without FCA authorisation.
The FCA has begun civil proceedings in relation to “alleged misleading statements” on pension investments by a lead generation firm called Avacade Investment Options.