The FSA has fined AWD Chase de Vere Wealth Management, a company that belongs to the large German AWD Group, £1.12m for recommending products to customers who already had sufficient pension provisions. The investigation also found that the customers were not always informed properly about the risks of the products. Full co-operation and an early settlement lead to a significant reduction of the fine, said an FSA enforcement officer. (via City A.M.)
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