British Steel adviser receives provisional £1.3m FCA fine

Follows his advising of 422 clients out of their DB schemes, including 183 steelworkers

clock • 1 min read
British Steel adviser receives provisional £1.3m FCA fine

The Financial Conduct Authority (FCA) has provisionally fined Geoffrey Armin of Retirement and Pension Planning Services nearly £1.3m after he advised 422 clients on transferring out of their defined benefit (DB) pension schemes – including 183 steelworkers.

The watchdog said it considered Armin "seriously incompetent" when advising on DB pension transfers. Armin has referred the decision to the Upper Tribunal, meaning these bans and the fine from the ...

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