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British Steel pension adviser fined GBP1.2 million, banned from regulated activity by FCA

( August 9, 2021, 12:41 GMT | Official Statement) -- MLex Summary: A financial adviser has been provisionally sanctioned for his advice to consumers on pension transfers, including members of the British Steel Pension Scheme, by the UK’s Financial Conduct Authority. The FCA fined Geoffrey Edward Armin 1.28 million pounds ($1.78 million) and has banned him from performing any senior management roles in regulated firms. The FCA described Armin has “seriously incompetent” in his advice, breaching several regulatory requirements. The decision by the FCA is provisional, and Armin has appealed.Statement follows. FCA decision attached....

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