UK regulator fines liquidated firm £2.4m over British Steel failings

Hope William-Smith
clock • 2 min read

Pembrokeshire Mortgage Centre has been handed a £2.4m fine for unsuitable transfer advice relating to a range of defined benefit (DB) schemes including the now-collapsed British Steel Pension Scheme (BSPS). The UK's Financial Conduct Authority (FCA) on 2 December said that the firm in question - which formerly traded as County Financial Consultants - is already in liquidation. Preference to creditors will be given in the case of the fine in order to maximise funds available for redress. In its final notice, the FCA said Pembrokeshire Mortgage Centre previously advised 420 consumers to...

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