Harlequin distributor has permissions changed by FSA

TailorMade Independent, a distributor of Harlequin Property investments, has had its permissions changed to restrict its ability to carry on new pensions business.

According to the Financial Services Authority's (FSA) register, TailorMade - which has an advice arm, an alternative investment business and self-invested person pension (SIPP) - must no longer carry on regulated activities in relation to new regulated pension contracts. The firm must also not dispose or diminish the value of any of its assets without the prior consent of the FSA, which also excludes it from entering any financial reconstruction or reorganisation. The permission changes come amid an FSA probe into pension providers' investments in property with Harlequin, a UK-based o...