FCA bans another IFA director over Harlequin SIPP suitability failings

Laura Miller
clock • 6 min read

The Financial Conduct Authority (FCA) has banned another former director of one of the main distributors of troubled investment Harlequin Property, fining him £165,900 for failings linked to pension advice.

Robert Shaw was a director at TailorMade Independent, the main distributor of Harlequin's high risk £400m unregulated property scheme that is under a criminal investigation by the Serious Fraud Office (SFO). TailorMade entered liquidation in September 2013 because it could not finance redress payments being demanded by Harlequin investors. The FCA found as a direct result of Shaw's failings, more than 1,600 of TailorMade's clients were at "significant risk" of transferring their pension funds into self-invested personal pensions (SIPPs) that were not suitable for them. Shaw failed ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Partner Insight: The quiet winners of AI competition

Partner Insight: The quiet winners of AI competition

The tech giants are locked in a money-throwing contest to dominate AI services. But the real winners may be the catchers of that capital. From the fabrication plants of Taiwan to the memory stacks of Korea, there are underappreciated and undervalued companies that are positioned to benefit no matter who comes out on top.

Orbis Investments
clock 22 September 2025 • 4 min read
Chris Justham: Join the investment rebellion

Chris Justham: Join the investment rebellion

Let's start with a game of 'Are you as rational as you think you are?'

Chris Justham
clock 17 September 2025 • 3 min read
Muted response as Labour names Grimsby Town FC co-owner next investment minister

Muted response as Labour names Grimsby Town FC co-owner next investment minister

After the sudden exit of Poppy Gustafsson last week

Eve Maddock-Jones
clock 08 September 2025 • 2 min read