The FCA has confirmed details of the second fine on a CMC company this week, this time for copying client signatures.

A mountain of claims against it has forced Berkeley Burke SIPP Administration Limited (BBSAL) to go into administration, with the book of business transferred to Hartley Pensions Limited.

The Financial Services Compensation Scheme (FSCS) will impose a levy of £532m on firms this year, £16m more than it forecast in January but £42m lower than the equivalent figure last year.

Three SIPP operators have been declared in default by the FSCS after 150 claims were received, the body announced today.