FSA fines network director £49,000 for pension switch failings

Charles Palmer, head of Financial Ltd, may also face customer compensation claims if it is found unsuitable advice was given. The FSA found the firm failed to properly organised its business regarding the  monitoring of advisers, leading to concerns about the quality of pension switching advice given between April 2006 and August 2008. According to the FSA investigation, Palmer failed to put in place an appropriate reporting structure to ensure senior management understood and carried out their responsibilities for monitoring the network's advisers. He also failed to ensure the fir...