British Steel  

As it happened: MPs probe British Steel scandal


The public accounts committee is conducting an inquiry into the British Steel Pension Scheme scandal which saw 7,700 members, many of whom received financial advice, transfer out of the scheme, representing about £2.8bn in funds.

The Financial Conduct Authority has since said many steelworkers received unsuitable advice and is setting up a redress scheme.

This afternoon MPs will speak to adviser trade body Pimfa and a lawyer representing the steelworkers. They will hear from the FCA, the Financial Services Compensation Scheme and the Financial Ombudsman Service.

Follow the hearings live with our news editor Amy Austin.

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