FCA orders £155,000 compensation from two British Steel advisers

Keith Dickinson and Andrew Allen are banned from giving pensions advice

Isabel Baxter
clock • 1 min read

The Financial Conduct Authority (FCA) has banned Keith Dickinson and Andrew Allen for British Steel Pension Scheme (BSPS) advice failings with £155,000 to be paid in compensation.  

The regulator revealed today (13 September) that Dickinson will pay £70,000 and Allen £85,606 to the Financial Services Compensation Scheme (FSCS) in compensation for customers. Dickinson and Allen both worked for now liquidated firm Mansion Park. Between June 2015 and December 2017 Dickinson provided pension transfer advice which Allen signed off that the FCA deemed unsuitable.  The FSCS has paid nearly £3m in compensation so far to Mansion Park customers, including more than £2m for advice provided by Dickinson. The FCA confirmed that 400 Mansion Park customers were advised to...

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 Companies

Hoxton Capital AUM tops £1.3bn with double IFA acquisition

Hoxton Capital AUM tops £1.3bn with double IFA acquisition

Dudley and Guildford-based IFAs purchased

Isabel Baxter
clock 17 April 2024 • 1 min read
Tatton sees AUM reach £17.6bn as advice firm numbers grow

Tatton sees AUM reach £17.6bn as advice firm numbers grow

Discretionary fund manager records net flow increase of 28% to £2.3bn

Isabel Baxter
clock 16 April 2024 • 2 min read
New online platform launches for care-related advice

New online platform launches for care-related advice

To meet Consumer Duty and vulnerability regulatory expectations

Isabel Baxter
clock 16 April 2024 • 2 min read