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Displaying items by tag: British Steel

A legal challenge against the Financial Conduct Authority’s decision to set up a redress scheme for former British Steel Pension Scheme (BSPS) members has been scrapped.

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The Personal Financial Society (PFS) has asked the Financial Conduct Authority (FCA) to reconsider its plans for assessing the amount of compensation owed to British Steel pension scheme (BSPS) members.

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Tuesday, 15 February 2022 07:58

FCA stops British Steel adviser asset sale

The Financial Conduct Authority (FCA) has stopped AJH Financial Services Limited (AJH) from disposing of assets without FCA permission.

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Friday, 21 January 2022 11:49

FCA asks advisers about British Steel transfers

The Financial Conduct Authority has sent a survey to 2,500 advice firms on its work related to the British Steel Pension Scheme (BSPS).

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Friday, 04 June 2021 09:18

FCA boosts British Steel claim applications

The Financial Conduct Authority (FCA) has published a new web page to help British Steel workers who transferred out after receiving unsuitable advice better understand the claims process.

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A new report into the BSPS debacle has heavily criticised regulators including the FCA and TPR.
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The Financial Services Compensation Scheme (FSCS) has revealed it has so far paid out £1.1m to former Active Wealth clients hit by the British Steel pensions debacle.
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Tuesday, 08 January 2019 12:18

Fears over MPs' probe into contingent charging

MPs on the Works and Pensions Committee have voted to investigate contingent charging on pension transfers but some in the industry are sceptical about the benefits of such a move.

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Thursday, 25 October 2018 12:36

FSCS British Steel compensation tops £500k

The Financial Services Compensation Scheme (FSCS) is currently paying out £531,000 to those affected by the continuing fallout of the British Steel debacle.
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The CISI Annual Financial Planning Conference heard yesterday from an expert panel that many lessons can be learned from the BSPS debacle and more must be done to stop a repeat.
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