FCA stops Montfort International from conducting new pension business

The Financial Conduct Authority (FCA) has stopped Surrey-based cross-border financial consultancy, Montfort International, from conducting new investment or pension business.

No explanation was given on the regulator's register as to why it must cease new pension activity, but it was told it must not dispose of assets.

According to the FCA register, Montfort must cease carrying on any business that involves any regulated activities relating to new investment or pension business.

This includes all business where applications have not yet been submitted to the pension provider and any other pipeline business.

In relation to pipeline business, Montfort is to cease to act for any customers, unless it had the FCA’s prior written consent.

It must also contact providers to stop any pension transfers, switches or any other movement of pension funds, and contact customers to inform them that Montfort cannot complete the business on their behalf.

The FCA stated that pipeline business refers to “any pensions business resulting from regulated activities undertaken by the Firm where a transfer, switch or other movement or increment of pension funds has been requested, or any advice provided, but not completed”.

Montfort International has been contacted by European Pensions for comment.

    Share Story:

Recent Stories


Podcast: How can a cross-border approach to pensions benefit multinationals?
In this podcast, Irish Association of Pension Funds CEO, Jerry Moriarty and AMX Head of Client and Manager Development, Aaron Overy, discuss with European Pensions Editor, Natalie Tuck, how a cross-border approach to pensions can benefit multinational companies.

Podcast - How are investors reacting to climate change in the Nordics?
In this podcast, BNP Paribas Asset Management’s Chief Sustainability Strategist, Mark Lewis, and AP7’s Head of ESG and Communications, Johan Florén, discuss with European Pension’s Editor, Natalie Tuck, how investors are reacting to climate change in the Nordics.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows

Europe’s pensions challenges
Francesca Fabrizi meets Matti Leppälä, Secretary General and CEO of PensionsEurope, to discuss the key aims and objectives of the association today.