Regulator bans trustees after suspected pension scam

"As this case shows, we will take action to replace trustees if we believe they are putting scheme funds at risk and will ban those who are not fit to perform such an important task –pursuing cases right the way through the courts if that is what it takes to get the right result."

The regulator has been increasing its action on pension scams in recent years. FTAdviser reported last week that the "mastermind" behind a £13.7m pension scam was banned from being a trustee of pension schemes and a company director.

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