I will give Jeremy Hunt his due - he knows how to ruin a Friday.

Today’s whopping £2.4m FCA fine imposed on a South Wales financial adviser firm shames the sector and the damage to consumer trust will be substantial.

The FCA has fined Pembrokeshire Mortgage Centre Limited (trading as County Financial Consultants) £2,354,331 for providing "woeful" and unsuitable advice to consumers to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes.

The Financial Conduct Authority said today that its expects more than 1,000 British Steel Pension Scheme (BSPS) members hit by poor pension transfer advice to start receiving redress calculations in 2023.