Welsh pension advisers fined as FCA aborts transfers out of British Steel scheme

The FCA has intervened to stop a Llanelli firm transferring out 141 people from the British Steel Pension Scheme after it had already switched out 25 people into "riskier" defined contribution schemes.

By Neasa MacErlean

West Wales Financial Services Ltd is now in liquidation and two of its employees have agreed to pay more than £67,000 between them to assist in the compensation now owed to their clients.