FCA catches firm offering compensation of £50 to BSPS victims

Regulator has come down hard on Welsh advisory firm David Stock & Co

Hope William-Smith
clock • 1 min read
FCA catches firm offering compensation of £50 to BSPS victims

Newport firm David Stock & Co has been blasted by the Financial Conduct Authority (FCA) after it found to be offering British Steel Pension Scheme (BSPS) victims just £50 in compensation.

The regulator said on Friday (19 May) that the "unsolicited settlement offers were not calculated in line with guidance" and were "a deliberate attempt to exclude former BSPS members from the redre...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

News Digest: MPs warn of 'clear risk' over Civil Service Pension Scheme admin transfer to Capita

News Digest: MPs warn of 'clear risk' over Civil Service Pension Scheme admin transfer to Capita

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 27 October 2025 • 1 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Government green-lights CDC scheme expansion, Sterling 20 initiative launches, inflation figures published

Professional Pensions
clock 24 October 2025 • 1 min read
PMI calls for urgent reform as UK's savings system 'at a tipping point'

PMI calls for urgent reform as UK's savings system 'at a tipping point'

Professional body looks to spark debate on UK savings crisis as Pensions Commission revived

Jonathan Stapleton
clock 24 October 2025 • 1 min read
Trustpilot