Gaudi was also involved in the administration of the now defunct Keydata Investment Services which was involved in a mis-selling scandal that resulted in many investors losing their life savings. Gaudi Limited was fined by the Financial Conduct Authority for failing to adequately protect customers as a result of their involvement with Keydata.
The restriction has been imposed as the FCA is concerned the firm’s Sipp customers may suffer harm if it is allowed to dispose of its assets without its approval. The FCA has not revealed the exact reason behind the restriction, but it is likely to be related to the firm’s recent difficulties. In 2018, the regulator had already suspended Gaudi’s permission to provide Sipp services for six months, due to “serious concerns” about its level of customer service. The firm is now subject to several other restrictions, including an obligation to inform the regulator before it makes any changes to its Sipp services or business.
These investments were not suitable for the majority of clients due to their high risk nature, and it was the responsibility of Gaudi Limited to make sure that any advice they gave to clients was suitable for their individual circumstances. Gaudi Limited has since been fined by the Financial Conduct Authority for its lack of due diligence when recommending these investments to customers.
Don’t hesitate to get in touch with our specialist advisors today to see if you could claim compensation for the mis-selling of SIPPs and unsuitable investments. We understand that this is a difficult time and that you may be feeling overwhelmed. We are here to help, so please don’t hesitate to contact us.
If you had your pension transferred by Acklam Financial Ltd, you may be liable for compensation worth 000’s. With over 25 Years of experience in the field and registration with the Bar Standards Board, we will handle your case with professionalism, clarity and transparency. Get in touch with us today and protect your assets
If you had your pension transferred by Gaudi, you may be liable for compensation worth 000’s. With over 25 Years of experience in the field and registration with the Bar Standards Board, we will handle your case with professionalism, clarity and transparency. Get in touch with us today and protect your asset
