RegActions records a disclosed FCA monetary penalty of £32,700 dated 31 Oct 2024 for Paul Adams.
Case facts
| Firm or individual | Paul Adams |
|---|---|
| Regulator | Financial Conduct Authority (FCA) |
| Date | 31 Oct 2024 |
| Penalty | £32,700 |
| RegActions breach classification | Pensions advice and transfers |
| Public case ID | 4cb3f4ab-bac6-4c76-99e7-4dd98abc942f |
Case summary
FCA bans Steven Hodgson and Paul Adams for pension transfer advice failings Last updated: 04/12/2024 See all updates The FCA has banned Steven Hodgson and Paul Adams of Vintage Investment Services (Vintage) from advising any customers on pension transfers and opt outs. Mr Hodgson and Mr Adams poorly advised people to transfer out of defined benefit pension schemes, including the British Steel Pension Scheme (BSPS).They are also banned from holding any senior management function in a regulated firm.In addition, Mr Hodgson and Mr Adams will pay £32,700 and £53,200 respectively to the Financial Services Compensation Scheme (FSCS) to contribute towards redress owed to Vintage customers.
Official evidence
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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.