The Financial Conduct Authority (FCA) has published a warning for members of self-invested personal pension (SIPP) provider Hartley Pensions about a letter sent from the business containing “factual inaccuracies”.
According to the regulator, the letter sent by Hartley director Tony Flanagan on 23 November may have caused customers concern informing them of an "imminent risk" that the value of pensions at the firm would be reduced. Customers were told that funds within their pension scheme would be used to fund administration and liquidation costs. On 29 July this year, Hartley Pensions was placed into administration and appointed Peter Kubik and Brian Johnson of UHY Hacker Young as joint administrators. Flanagan claimed in his letter that the regulator "continued to pursue an aggressive posi...
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