Tenon told to review four years of pension transfers

It says the national IFA, fined £700,000 today for advice and sales "failings" relating to Lehman-backed structured products, will need to re-examine business written between 6 April 2006 and 1 December last year. The FSA says the company will then undertake a customer redress programme if evidence of consumer detriment is identified. It follows a recent review of Tenon's pension switching business - conducted at the same time as investigations into its structured product sales - which identified "failings" in the adequacy of its sales and compliance processes. That was part o...