FCA bans another IFA director over Harlequin SIPP suitability failings

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 ...