Shropshire-based firm declared in default by the FSCS

FSCS received five claims against the firm related to SIPP advice

Ayesha Venkataraman
clock • 3 min read

The Financial Services Compensation Scheme (FSCS) has declared Shropshire-based advice firm Thompson Prior in default.

The firm ceased to be authorised by the Financial Conduct Authority (FCA) on 3 December 2012, according to the FCA register. It had four partners, namely Timothy John Prior, Nicholas Charles Thompson, Leanne Penelope Martine Little, and Alison Jane Prior, the latter also holding compliance oversight and pension transfer specialist roles. A liquidator was appointed in 2017, and the firm was dissolved on 8 November 2019. Both Timothy and Alison Prior had significant control over the firm, and owed it a total of £92,501, according to the final accounts on Companies House. This amount rem...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA revokes passported Irish firm's temporary permissions

FCA revokes passported Irish firm's temporary permissions

Wellington Court Financial Services cannot carry out regulated activity

Isabel Baxter
clock 09 October 2023 • 1 min read
FCA cancels permissions of Hove firm Albany Financial Consultants

FCA cancels permissions of Hove firm Albany Financial Consultants

Cancellation of Part 4A permissions enacted with immediate affect

Hope William-Smith
clock 01 September 2023 • 1 min read
Labour branded 'short-sighted' for vowing to battle lifetime allowance

Labour branded 'short-sighted' for vowing to battle lifetime allowance

Consultancy says attention on pensions is better spent elsewhere

Jonathan Stapleton
clock 13 April 2023 • 1 min read