Pension SuperFund Capital has reported an “inadvertent breach” of one of the rules of City Code on Takeovers and Mergers in its announcement on 8 September about its offer for SIPP provider STM Group.

The FSCS has declared three financial adviser firms as failed, opening the door to compensation claims from ex-clients.

The FCA has banned financial advisers Keith Dickinson and Andrew Allen for British Steel Pension Scheme transfer advice failings and ordered them to pay £155,000 in compensation.

Millions of older workers are unaware of how much they have saved for retirement, prompting fears that they will miss out on an opportunity to boost their retirement pots.

Forty financial advice firms hit by BSPS claims have so far failed with a further seven under investigation, latest FSCS data shows.