Read hit with £150,000 fine for pensions unlocking

This is the third such case of fines issued to companies handling early pensions unlocking in recent months, as earlier this year the FSA fined Berkeley Jacobs FS £175,000 and Sesame was hit a £250,000 fine for similar breaches. Buckinghamshire-based Read labels itself, according to its website, as “specialists in the early release of pensions”, however the FSA argues the firm was fined for “inadequate familiarity with regulatory requirements and failure to include adequate risk warnings in its financial promotions”. In particular, the FSA says around 1,100 clients were advised betwee...