FSA - Berkeley Jacobs fined £175,000 for 'pensions unlocking'

11 February 2004
The Financial Services Authority has fined Berkeley Jacobs Financial Services Limited (Berkeley Jacobs) £175,000 for misleading advertising and serious failings in the advice it gave to consumers to release cash early from their pensions.

David Kenmir, Director of Investment Firms at the FSA, explained: We will not tolerate firms showing such a blatant disregard for consumers' interests.'