Basic Search  |  Summaries  |  Advanced SearchPenalty: £23,610,000
Year: 2023
Date: 15 May, 2023
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: The Financial Conduct Authority found that Lighthouse had given unsuitable advice to people looking to transfer out of defined benefit pension schemes, including to members of the British Steel Pension Scheme. Lighthouse had cooperated with the FCA and proactively given £23 million in redress, so a censure from the FCA was considered the appropriate official outcome.
Settlement Type: Cooperation and proactive redress
Agency: Financial Conduct Authority
Source of Data: (click here)