Trigon fined by FSA for poor record keeping

The FSA has fined Bristol-based Trigon Pensions £10,500 for failing to monitor advisers at its appoi...

The FSA has fined Bristol-based Trigon Pensions £10,500 for failing to monitor advisers at its appointed representative Trigon Financial Services (TFS). According to the regulator, TFS did not record sufficient customer information and was therefore unable to demonstrate the quality of the advice given. It also failed to implement and follow an adequate training and competence scheme for advisers while its suitability letters were inadequate. Head of retail enforcement at the FSA Jonathan Phelan said Trigon's failures were serious and mirrored some of the main failings it found during wo...