Cardiff-based advice firm Ron Treherne IFA has lost its permissions after it failed to compensate two clients who were given unsuitable advice.
In a final notice published on Tuesday (25 May), the Financial Conduct Authority (FCA) said it had removed Treherne's 4A permissions. The regulator found the firm, which was declared in default in October 2019, failed to pay compensation to two clients, following decisions that were upheld by the Financial Ombudsman Service (FOS). Both clients claimed that Treherne failed to assess the suitability of their investment and the firm was ordered to compensate both clients in April 2018. However, despite repeated attempts to get the IFA to pay, the clients were not compensated on time. ...
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