Skip to Primary Navigation

Skip to main content

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

Ten pound note featuring the word pension
Photo: Getty Images
Martina Lindberg profile image

Martina Lindberg

2 min read

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).

According to

, , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience