UK Regulator Bans Pension Advisory Director Over Uninsured Advice, Imposes Fine
Frank Breuer Banned and Fined by UK Financial Regulator
Background of the Case
May 12 (Reuters) - Britain’s financial regulator on Tuesday banned Frank Breuer, the joint owner and sole director of Bluesky Wealth Management, which entered insolvency in 2023, from working in UK financial services for providing pension transfer advice without professional insurance.
Details of the Fine and Ban
Breuer was also fined 755,000 pounds ($1.02 million) for risking customers' compensation and for providing investment and pensions advice without an appropriate professional insurance from April 2019.
Company Status
Birmingham-based Bluesky Wealth Management Limited has been liquidated.
Exchange Rate Information
($1 = 0.7385 pounds)
Reporting Credits
(Reporting by Ankita Bora in Bengaluru; Editing by Devika Syamnath)
