RegActions records a disclosed FCA monetary penalty of £2,400,000 dated 2 Dec 2022 for Pembrokeshire Mortgage Centre Limited.
Case facts
| Firm or individual | Pembrokeshire Mortgage Centre Limited |
|---|---|
| Regulator | Financial Conduct Authority (FCA) |
| Date | 2 Dec 2022 |
| Penalty | £2,400,000 |
| RegActions breach classification | Pensions advice and transfers |
| Public case ID | ecf996a5-6734-4838-808c-4b3515452408 |
Case summary
FCA fines Pembrokeshire Mortgage Centre Ltd £2.4m for serious failings in relation to the British Steel Pension Scheme Last updated: 02/12/2022 The FCA has fined Pembrokeshire Mortgage Centre Limited (PMC) (trading as County Financial Consultants) (in liquidation) £2,354,331 for unsuitable advice to consumers to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes. The FCA’s view is that most people should keep the guaranteed income provided by a DB pension.
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Scope
This page describes one source-linked monetary record. RegActions excludes non-monetary outcomes and amounts awaiting review from FCA fine totals. The FCA publication remains the authoritative source.