FCA revokes British Steel-linked advice firm's authorisation

This comes after the Weymouth-based firm was restricted by the regulator in November 2023 after it failed to pay redress to former members of the British Steel Pension Scheme (BSPS). The FCA imposed several restrictions on KBFS Financial on 23 October which prevented it from carrying on any regulated activities and restricted access to its assets. This means the firm can no longer hold or control client money. In an update posted on the Financial Services Compensation Service today (9 April), it warned that if clients received advice prior to 1 July 2019, it was likely given by the fi...