By Lucia Osborne-Crowley (October 1, 2021, 11:10 AM BST) — The finance watchdog has handed out warnings to two financial advisers and a stockbroker accused of running a pensions scam by encouraging investors to move their money into high-risk, illiquid funds.
The advisers earned £5.9 million ($7.9 million) from the scam, the FCA said, adding that it proposed to hand down financial penalties. (iStock) The Financial Conduct Authority said it has issued a warning to three individuals, who the regulator did not identify, for colluding on a scam in which they pushed savers to move their money into self-invested personal pension schemes, or SIPPs, that in turn invested their money into…
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