The UK Monetary Conduct Authority (FCA) has imposed quite a few restrictions on KBFS Monetary Restricted.
The corporate is prevented it from carrying on any regulated actions and has entry to its property restricted.
This is because of issues that the agency has didn’t pay redress awarded to former members of the British Metal Pension Scheme by the Monetary Ombudsman Service (FOS), and for failing to interact with the FCA in an open and cooperative means.
KBFS has failed to offer the regulator with info requested about its monetary place and FOS awards it was as a result of pay out.
It seems the agency has didn’t pay redress awarded by the FOS in relation to unsuitable pension-transfer recommendation given to shoppers with a defined-benefit occupational pension scheme with British Metal.