The director of a Port Talbot-based business that the Financial Conduct Authority issued a warning about has hit back at the regulator.
Talbot Review Centre is not authorised by the FCA but the regulator has issued a warning notice stating it is concerned it may be providing financial services or products.
According to Talbot Review Centre's Facebook page the company offers pension reviews and states it can "review your pension making sure it is as it should be or we can switch it", at no upfront cost.
It also offers help with wills, mortgages and cavity wall insulation claims.
In its warning, the FCA said: "This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation."
Talbot Review Centre was incorporated in October last year as thousands of steelworkers in the Port Talbot area were deciding what to do with their retirement savings.
Sole director of the firm Mark Cubberley, who according to his LinkedIn page has worked in telesales since 2009, starting out as a payment protection insurance lead generator before becoming call centre manager.
Mr Cubberley said: "I am disputing the warning with the FCA. My company is not actually trading. It has been set up and it was going to be a lead generation business but it is not trading."
Steelworkers in and around Port Talbot were given until late December last year to decide whether to move their defined benefit pension pots to a new plan, BSPS II, or stay in the current fund, which would be moved to the Pension Protection Fund.
This led to a surge in DB pensions being transferred into defined contribution schemes as tens of thousands of steelworkers considered their options, with some falling victim to "dubious" financial advisers and "parasitical" introducers, according to a report by the work and pensions select committee.
damian.fantato@ft.com
