FSA fines Trigon £10,500

The FSA has fined Trigon Pensions Limited £10,500 for failing to monitor advisers effectively at its...

The FSA has fined Trigon Pensions Limited £10,500 for failing to monitor advisers effectively at its representative, Trigon Financial Services. According to the FSA, TFS did not record sufficient customer information and was unable to demonstrate the quality of the advice that was given. The company also failed to implement and follow an adequate training and competence scheme for advisers while its suitability letters were also deemed inadequate. The FSA visited Bristol-based Trigon in January 2006 to review a sample of its customer files from the previous year. It has now instructed t...