FSA probes pension providers over Harlequin Property holdings

The Financial Services Authority (FSA) has written to pension providers asking them for details of members' holdings in Harlequin Property, a UK based overseas property sales agent that is not regulated.

The letter asks pension providers "do any of your members have holdings in Harlequin Property" and if so, the FSA wants details of how much the providers' members have invested in Harlequin. Providers have five days to respond to the letter. An FSA spokesperson said the regulator is "taking steps to establish levels of business with Harlequin". In January the FSA issued a warning to financial advisers about investing clients money in Caribbean property through Harlequin Property. In the alert the FSA highlights that it has seen an increasing number of self-invested personal pens...