Complaint against French firm with UK operations dismissed

Claims the parent of a French firm that gave poor advice operates in the UK

Sahar Nazir
clock • 2 min read

The Complaints Commissioner has sided with the Financial Conduct Authority (FCA) against a complainant who raised concerns that the parent group of a French-headquartered firm that had provided unsuitable pension advice was allowed to retain its UK operations.

The decision by commissioner Amerdeep Sohal - published yesterday (6 July) - outlined the complainant's case, which stemmed from their experience receiving pensions advice from ‘Firm X' while living abroad in France in 2014. The complaint, submitted on 23 March, questioned why Firm X's parent - ‘Group X' - still had an operating subsidiary in the UK and had also entered into strategic partnerships with other FCA-regulated firms. The complainant's case had provided the FCA with information about the firm and its chief executive (CEO), and expressed concerns about Group X's UK subsidiar...

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