The FSA has fined the IFA firm Interdependence Limited £125,000 for serious failings in its supervis...
The FSA has fined the IFA firm Interdependence Limited £125,000 for serious failings in its supervision of appointed representatives who were advising clients to withdraw cash early from their pensions. According to the regulator, the ineffectiveness of the firm's systems and controls led to the risk that several hundred customers may have been mis-sold contracts. The group, which operates a network of IFAs, all of whom are appointed representatives, is currently undertaking a review to find out whether customers may have been disadvantaged between January 1996 and March 2002.
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