Adviser who racked up £2m in British Steel DB transfer fees banned

The Financial Conduct Authority (FCA) banned Morgan of Pembrokeshire Mortgage Centre (PMC) from advising on pension transfers and opt ops and from holding any senior management function in a regulated firm. The ban came as a result of Morgan's work on BSPS transfers between June 2015 and December 2017. The regulator said he had demonstrated a "lack of competence in his oversight" of PMC's pension transfer advice process during the period. It explained this had badly affected clients between August and November 2017 when PMC - which is now in liquidation - advised an average of 65 peop...