Openwork has launched its Academy Fast Track programme to encourage people with no significant financial services experience to enter the financial advice profession as a second career.

Defendants are due to appear in court today accused of illegally opting employees out of workplace pensions.

The Pensions Regulator (TPR) has brought the prosecution against national recruitment firm Workchain Ltd (formerly known as Smart Recruitment UK Ltd), its directors and some senior staff.

They will appear at Derby Magistrates Court this afternoon.

The firm and staff are accused of logging into its workplace pension scheme’s online system and using employees’ personal details to terminate their membership of the scheme.

The alleged activity was contrary to the terms of use of the system, which requires employees to opt out themselves.

If convicted those accused could face up to two years in prison and an unlimited fine.

In a first for TPR, those charged with unauthorised access to a computer programme, contrary to section 1(1) of the Computer Misuse Act 1990 are:

• Workchain Ltd, which has its head office in Stephensons Way, Derby, Derbyshire
• Director Phil Tong, 40, of Spend Lane, Ashbourne, Derbyshire
• Director Adam Hinkley, 39, of Shardlow Road, Alvaston, Derbyshire
• Hannah Armson, 34, of Heath Lane, Findern, Derbyshire
• Lisa Coy, 33, of Marylebone Crescent, Mackworth, Derbyshire
• Martin West, 31, of Jackson Road, Hucknall, Nottinghamshire
• Robert Tomlinson, 38, of Crosby Close, Forest Town, Nottinghamshire
• Andrew Thorpe, 33, of Thorpe Street, Burntwood, Staffordshire

The case continues.

Ex-Everton and Glasgow Rangers manager Walter Smith has launched legal proceedings against his former financial advisers.

The ABI has appointed the first woman to chair the organisation in its 100 year history.

New research from wealth management and Financial Planning group Tilney has revealed that most people remain in the dark about what to do with their pensions on retirement but most still want the ‘certainty’ of an annuity-style income.

A new firm, Pension Advice Specialists (PAS), which offers advice on pension transfers has warned of a gap in the availability of guidance.

The FCA has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days.

Longevity and a decade of historically low interest rates have created “a dangerous cocktail” for the over-50s generation, according to new joint research by the London Institute of Banking & Finance and Seven Investment Management.

A dispute over whether cashflow modelling is to become “effectively mandatory” for DB transfers has broken out between a software firm and the FCA.

Intelliflo, the technology platform used by thousands of Financial Planners and financial advisers, has been sold by owner HgCapital to investment firm Invesco for an undisclosed sum.