The FCA seeks to ban a financial adviser after he was convicted of trying to sexually groom a child. In a decision notice today, the watchdog says it has removed the IFA’s approval to be a senior manager and to take on any regulated role in the future. The adviser Jon Frensham has appealed the decision, […] 29
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A High Court judge has deemed the Financial Services Compensation Scheme’s decision to only compensate some of the investors of a collapsed mini-bond provider should stand. London Capital and Finance bondholders have been left disappointed as they failed to get the FSCS’s decision overturned in a judicial review of the matter. But affected investors plan […]
Under-fire introducers win reprieve in high risk pensions case
By Michael Klimes 17
th December 2020 12:22 pm
Unregulated introducers accused of giving advice on high-risk pensions have won the right to appeal a ruling against them.
In August, the High Court ordered two companies and three individuals to pay nearly £11m in compensation over unauthorised pension services.
The order concerned the case of Avacade Limited, which is in liquidation, and Alexandra Associates (UK) Limited trading as Avacade Future Solutions (AA).
It also concerned their directors, Craig Lummis, Lee Lummis and Raymond Fox.
The court found Avacade’s and AA’s activities were unlawful as they engaged in the regulated activities of arranging and advising on investments.