Tribunal backs regulators' ban on Freedom SIPP directors

John James Quarrell and Susan Beaumont, who also operated Quarters Trustees, were trying to fight decisions made by the Financial Services Authority (FSA) and The Pensions Regulator (TPR) to ban them from acting as trustees, and as authorised persons. The Upper Tribunal said their case was likely to fail and so would not proceed. They were both banned from acting as trustees after £20m of Freedom SIPP investors' money was transferred without the consent of 150 of its members. HM Revenue & Customs (HMRC) also reported the pair after tax irregularities relating to two occupational pe...