A Bristol pensions provider has been put into administration at the request of the UK's financial regulator. Hartley Pensions, on Marsh Street, was stopped by the Financial Conduct Authority (FCA) from conducting new business earlier this year, including accepting new clients.
The FCA imposed restrictions on the firm due to a number of “serious operational, financial and regulatory issues" within the business. The FCA has now said Hartley Pensions needs to enter an insolvency process in the interest of customers.
Peter Kubik and Brian Johnson of UHY Hacker Young have been appointed as joint administrators. Bosses at Hartley - a self-invested personal pension (SIPP) provider - sought professional insolvency advice, which resulted in them acknowledging the company was insolvent and no longer able to operate outside of an insolvency process.
