The Financial Services Compensation Scheme (FSCS) has declared Sheffield-based Abbey Lane Financial Associates Limited (FRN 649170) as failed.

The Financial Services Compensation scheme has today declared three financial advice firms as failed, including two SIPP-related and one linked to BSPS.

The FCA has fined Huddersfield-based Inspirational Financial Management Ltd (FRN 223511) £897,840 after it poorly advised people to transfer out of DB pension schemes, including the British Steel Pension Scheme (BSPS).

The Financial Conduct Authority has cancelled the permission of KBFS Financial Limited (FRN: 831504) to carry out regulated business following restrictions imposed in October over concerns about its failure to pay redress to former members of the British Steel Pension Scheme.