The man branded the 'mastermind' behind a £13.7m pension scam has been banned from being a trustee of pension schemes and a company director.

The Advertising Standards Authority has ruled against a pensions firm over an advertising letter it mailed out and said the content could have caused undue distress.

Four trustees of a master trust, who failed to promptly invest members’ savings for three years, affecting 9,081 members and contributions of £1.4 million, have been fined by The Pensions Regulator (TPR).

The FCA and The Pensions Regulator have today launched a joint regulatory strategy aimed at taking joint action to deliver better outcomes for pension consumers.