FOS uncovers more bad Harlequin advice

Laura Miller
clock • 3 min read

The Financial Ombudsman Service (FOS) has uncovered two more cases where self-invested personal pension (SIPP) investors in troubled unregulated overseas property scheme Harlequin received poor advice.

In one case, the FOS ruled an investor did receive unsuitable advice but because she pulled out of the deal at the last minute there is no loss so no compensation due. Mrs J complained to the service about advice she had received from Broadlands Partnership, to transfer the pension assets she had as part of her divorce settlement into Harlequin via a SIPP. In September 2010 Mrs J paid £1,000 to reserve an off-plan property with Harlequin, after being initially introduced to the scheme by another company, called Azure. > Read:Harlequin's £400m tale of woe < According to the FOS, i...

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