Directors appeal FCA fines for "flawed" pension transfer business model

The FCA has decided to penalise two advisers from a firm based in Crowborough, East Sussex, for their design and operation of a "flawed business model" that created "significant risk" to many clients.

By Neasa MacErlean

The model was used to evaluate potential pension transfer cases - and recommended transfers in 99 per cent, even though 90 per cent of them, says the regulator, "did not comply with FCA rules".