The FCA has secured a bankruptcy order against father and son directors of a collapsed SIPP introducer who failed to pay back £10.7m in restitution to clients.

The Court of Appeal has upheld findings of breaches against illegal pension introducers Alexandra Associates (UK) Limited trading as Avacade Future Solutions (AA), and Craig and Lee Lummis in a case brought by the Financial Conduct Authority (FCA).

The High Court has ordered illegal pension introducers Avacade, Alexandra Associates to pay over £10.7m in compensation to consumers along with an additional £6.7m from their directors.

New research has found that 89% of the UK population do not consider saving for retirement a priority and 15m people are not saving at all. Read more...