Pensions Manager Liable For Unvetted Investment 'Advice'

Law360, London (April 1, 2021, 3:06 PM BST) -- The Court of Appeal has ruled that a pensions provider owes consumers compensation after risky investments in storage facilities in northern England failed, finding that the company had "steered" investors without verifying its "advice."

The appeals court has said that a pensions provider is liable to consumers who were advised to cash out their retirement savings and invest them elsewhere. (iStock) Appellate judges said that Carey Pensions UK LLP is liable to consumers who were advised to cash out their retirement savings and invest the proceeds in a self-invested personal pension, known as a SIPP.

The ruling overturns findings that Carey, now known...

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