FCA begins High Court action over DB transfer advice failings

clock • 1 min read

Britain's regulator, the Financial Conduct Authority (FCA), said yesterday it has begun High Court proceedings against former advisers Paul Steel and Jacqueline Foster. Both Steel and Foster were directors of failed advice firm Estate Matters Financial (EMF) over alleged unsuitable defined benefit (DB) transfers. EMF is now in liquidation. The FCA said yesterday that, as part of the proceedings, an interim injunction has been secured which freezes the assets of Steel and Foster, up to £7m. The FCA alleges that EMF has contravened various requirements under the Financial Services ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?


Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.