FCA prevents British Steel adviser firm from paying dividends

AJH Financial Services

Tom Ellis
clock • 1 min read
The FCA is set to consult on a redress scheme for former members of the British Steel Pension Scheme next month.
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The FCA is set to consult on a redress scheme for former members of the British Steel Pension Scheme next month.

The Financial Conduct Authority has said it stepped in to prevent a firm that advised on British Steel pension transfers from paying out dividends and disposing of assets without its permission.

In December last year, the FCA warned firms it would take action it deemed necessary against firms that attempt to avoid redress liabilities: "Being unable to compensate consumers and transferring ...

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