FCA orders Cardiff IFA to stop DB transfers over steelworker pensions

Latest firm to have permissions revoked

Hannah Godfrey
clock • 1 min read

Cardiff-based financial advice firm Bartholomew Hawkins has been ordered to cease advising on defined benefit (DB) transfers by the Financial Conduct Authority (FCA).

Its entry on the FCA register said the firm must "cease all regulated activities relating to DB transfer business", effective from 22 December. The FCA confirmed to Professional Adviser the firm had its permissions revoked because of transfer advice it has given to British Steel Pension Scheme (BSPS) members.   Bartholomew Hawkins has been contacted for comment. Following the attention the BSPS scheme has brought to DB transfers, the FCA said it had undertaken "significant information gathering" in order to identify firms that have been most active in advising consumers to transfer...

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 Regulation

FSCS places Lancashire firm Frodsham Financial Planning in default

FSCS places Lancashire firm Frodsham Financial Planning in default

Advice practice formerly traded as Tom Carroll Associates FP

Hope Coumbe
clock 13 February 2024 • 1 min read
Schroders CEO: 'Private is a much easier place to exist than public'

Schroders CEO: 'Private is a much easier place to exist than public'

Peter Harrison says he is 'not quite sure we can solve the problem'

Cristian Angeloni
clock 02 February 2024 • 3 min read
FCA: Blackmore Bond promotions had 'very relevant risk warnings'

FCA: Blackmore Bond promotions had 'very relevant risk warnings'

No enforcement action for firms who approved financial promotions

Hope Coumbe
clock 07 December 2023 • 3 min read