FCA Blocks Corporate Advice Firm From Disposing Of Assets

By Najiyya Budaly (May 3, 2022, 11:22 AM BST) -- The Financial Conduct Authority has moved to prevent corporate advisory firm Alexander David from dumping assets to stop it avoiding paying compensation to retirement savers who were given unsuitable pensions advice.

The FCA said on Friday that it has imposed requirements on Alexander David Securities Ltd., which mean that the corporate finance company must not dispose of any assets without the written consent of the City regulator. The watchdog said it wants to ensure that Alexander David has sufficient funds available to pay compensation to clients who were given unsuitable guidance on their retirement planning.

Alexander David was responsible for multiple agents,...

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