The Financial Conduct Authority has published Warning Notice Statements setting out its plans to take action against Hartley Pensions Limited and an individual involved at the firm. The FCA alleges the firm provided false and misleading information and improperly withdrew and invested substantial amounts of customers’ pension funds without their consent to benefit an individual at the firm. Hartley Pensions Limited was a Self-Invested Personal Pension operator that went into administration in July 2022. The FCA alleges the individual dishonestly used pension funds and made false representations to obtain money for a company they owned, and then misled the FCA to conceal the misconduct. The warning notices are not final decisions and the subjects have the right to make written and/or oral representations to the Regulatory Decisions Committee. Depending on that process, the matter may be discontinued or the FCA may proceed by issuing a Decision Notice, which can be referred to the Upper Tribunal; if it is not referred or the case is settled, the FCA will issue a Final Notice and intends to publish its findings at an appropriate point.
Financial Conduct Authority 2026-04-15
Financial Conduct Authority issues warning notices to Hartley Pensions and an individual over alleged unauthorised use of customers’ pension funds
The Financial Conduct Authority has issued Warning Notice Statements outlining proposed enforcement action against Hartley Pensions Limited and an individual at the firm. The FCA alleges the firm provided false and misleading information and that substantial amounts of customers’ pension funds were dishonestly withdrawn and invested without consent for the benefit of the individual and a company they owned, with attempts to mislead the FCA to conceal the misconduct. The notices are not final decisions and may lead to a Decision Notice and ultimately a Final Notice with published findings.