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

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

TPO upholds complaint against employer for failing to pay contributions into plan

TPO upholds complaint against employer for failing to pay contributions into plan

Employer ordered to pay investment loss into plan and £1,000 for ‘serious distress’ caused

Holly Roach
clock 17 September 2024 • 1 min read
First Actuarial reports 15% uptick in revenue

First Actuarial reports 15% uptick in revenue

Expansion into new business areas drives growth that ‘exceeded expectations’

Jonathan Stapleton
clock 17 September 2024 • 2 min read
Buzz: Should Reeves target productive investments from DC schemes?

Buzz: Should Reeves target productive investments from DC schemes?

DC productive investments, pension taxation reform and pensions dashboards

Professional Pensions
clock 17 September 2024 • 1 min read
Trustpilot