The Financial Conduct Authority (FCA) has imposed restrictions on KBFS Financial Limited following concerns over its failure to pay redress to former members of the British Steel Pension Scheme.

DB transfer values have fallen by a third since June 2018, according to the latest data from XPS’s Transfer Value Index.

The Financial Conduct Authority has banned Darren Reynolds and Andrew Deeney of Active Wealth Limited for dishonest pension transfer advice.

The FCA has banned financial advisers Keith Dickinson and Andrew Allen for British Steel Pension Scheme transfer advice failings and ordered them to pay £155,000 in compensation.