The managing director of global advisor firm Duff & Phelps has said Pension Freedoms have encouraged scammers.

The FCA has warned investors to be wary of a firm which promises guaranteed income of up to 10% per year.

European regulators have banned retail investors from investing in binary options after nearly £60m was cheated from consumers in the UK alone.

The long-awaited ban on pensions cold calling may come into effect this year as early as June after the government committed to legislation to introduce the measure.