British Steel Pension Scheme (BSPS) linked advice firm Green Gem Financial has been declared in default by the Financial Services Compensation Scheme (FSCS).
The Birmingham-based firm was declared in default by the lifeboat fund yesterday (12 July) after the first claim against it was upheld. The FSCS told Professional Adviser that there are four claims in total, two of which have been rejected and all relate to pension transfers. Green Gem Financial firm was also involved with BSPS-related advice. According to the Financial Conduct Authority (FCA) register, the firm has not been authorised since December 2023, meaning it can no longer provide regulated activities and products. Green Gem Financial had been registered with the regulator sin...
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