FSA bans IFA from pension transfer advice

It has prohibited Ivan and Valerie Richards, partners and owners of IFA firm Alexanders, from performing certain controlled functions related to regulated activities, with Mr Richards specifically "prohibited from giving pension transfer advice", while Mrs Richards is "prohibited from performing any significant influence controlled functions". The decision is based on the advice provided by Alexanders regarding the transfer of employees from membership of the final salary pensions of one manufacturing company to the group personal pensions scheme of another, following a company takeover....