The Financial Conduct Authority (FCA) has banned Birmingham-based planner Mark Abley from providing advice on pension transfers.
County Capital Wealth Management (CCWM) which is linked to British Steel Pension Scheme (BSPS) advice, has been in liquidation since 8 May 2020. Managing director Abley will have to pay £106,100 to the Financial Services Compensation Scheme (FSCS) to contribute towards the redress owed to CCWM's customers. The FCA has said it will apply the amount as a fine if Abley fails to pay on time or does not pay any of it. As of 14 March 2023, the FSCS has upheld 53 pension transfer claims against CCWM and paid out over £2.1m in compensation to its customers. From April 2015 to February 2...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
