Prime minister Theresa May has pledged that the government will work alongside the Financial Conduct Authority (FCA) in cases involving "rogue" advisers, following the British Steel saga.
Speaking in parliament yesterday (5 December), May was answering a question from MP for Blaenau Gwent Nick Smith about the plight of one of his constituents, a steelworker who had received poor advice to transfer his pension. Smith said: "One of my constituents has lost thousands of pounds from his British Steel pension as he was preyed upon by a rouge financial adviser. It's happened to hundreds of others across the country. "The Financial Conduct Authority doesn't have the teeth to sort this out. I think ripping off pensioners is criminal, does the prime minister agree?" In respo...
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