Carey Pensions ombudsman ruling contradicts High Court judgment

Decision one month before Court judgment

clock • 4 min read

Carey Pensions has been asked to compensate a client who lost out from the same investment involved in the landmark High Court case against the self-invested personal pension (SIPP) provider.

The Financial Ombudsman Service (FOS) heard that a Carey client, known as Mr A to retain his anonymity, transferred his defined contribution pension valued at £40,000 into a SIPP through Carey in March 2012. When Mr A's SIPP dropped in value he accused Carey, which has since been rebranded Options Pensions, of not conducting proper due diligence and failing to meet its obligations as an authorised firm. Carey used Spain-based introducer CL&P to facilitate investments on Mr A's behalf into storage facility Store First and Global Agricultural Services (GAS) Verdant Australian farmland. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Treasury's AR consultation: Extending the FOS' scope a 'concern'

Treasury's AR consultation: Extending the FOS' scope a 'concern'

‘FOS needs to be overhauled as it is’

Isabel Baxter
clock 19 February 2026 • 4 min read
In Accord launches advice firm client investment 'badge' initiative

In Accord launches advice firm client investment 'badge' initiative

To demonstrate commitment to understanding client needs

Laura Purkess
clock 17 February 2026 • 2 min read
Feel Good Friday: Quilter pledges £3m towards financial education

Feel Good Friday: Quilter pledges £3m towards financial education

Alongside £1m in grants supporting charities

Professional Adviser
clock 13 February 2026 • 1 min read