Four people are under investigation by the FCA over high-risk schemes and funds continue to struggle through February - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
‘Middlemen' under investigation as 6,000 lose out in pension scams Four people who persuaded savers to invest in high-risk schemes that went wrong are being investigated by the Financial Conduct Authority (FCA) as part of a £258m pension transfer scam, the Sunday Times reveals. The FCA is investigating the individuals, as well as four unregulated firms that convinced savers to transfer their pension pots to unsuitable products. These products apparently left them with no protection when they failed, affecting some 6,000 savers with average losses at £43,000 per individual. The...
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