FCA bans four over 'disgraceful' occupational pension advice

The Financial Conduct Authority (FCA) said the banned men were associated with two IFAs appointed by CBW Trustees and CBW Pensions Forensics (CBW) to advise six occupational pension schemes. The regulator said their advice directly led the affected schemes to unnecessarily move around investments - generating millions in unwarranted commission. Members of the pension schemes could now face lower retirement incomes, the FCA said, as the pension assets were put in "potentially unsuitable high-risk investments". FCA director of enforcement and financial crime Tracey McDermott said: "W...