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Adviser banned and ordered to pay £850,000 in redress to clients

Ten pound note featuring the word pension
Photo: Getty Images

Martina Lindberg

2 min read
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Advice failed to meet required standards, with British Steel pensioners badly hit.

Paul Steel, the director of Estate Matters Financial Ltd (EMF), has been banned from working in financial services after giving unsuitable advice to customers to transfer out of defined benefit pension schemes.

He has also been ordered to pay £850,000 ($1.08m) to the Financial Services Compensation Scheme (FSCS).

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