IFA TailorMade Independent (TMI), which advised on investments with troubled overseas property agent Harlequin Property, has launched an internal review of its processes following a visit by the Financial Services Authority (FSA).
In a statement, TailorMade - which has an alternative investment business and self-invested person pension (SIPP), as well as its advice arm - said it had a scheduled FSA visit in January. Prior to the FSA visit - and in response to the FSA's alert about advisers putting investors' money into Harlequin via SIPPs - , TMI said it took "the precautionary step" of suspending new business pending a review of the firm's advice process. IFAonline revealed this week that TMI had its permissions changed on the FSA register to restrict its ability to carry on new pensions business. The firm ...
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