Four men have been punished by the financial regulator for 'disgraceful' actions that saw them generate £4million in commission payments by unnecessarily moving around pension investments. The bans were dished out after a review by The Pensions Regulator of pension trustees CBW Trustees and CBW Pensions Forensics which found serious failings in the firms' conduct. Much of the £4million in commission payments taken as a result of their actions has been recovered, and any charges passed on to members should be reimbursed, but the FCA could not rule out that pension savers in the scheme may be affected by the high-risk products their pots were invested in Andrew Powell, Martin Gwynn and pension company director Michael Conway have been banned from working in the financial services industry for life by the Financial Conduct Authority (FCA), while Daniel Conway has been banned from holding a key role at any financial firm. It followed the appointment of two IFA firms - G&G Financial Services and Staverton Wealth Management - by CBW to advise on six workplace pension schemes. This appointment led to the needless moving around of investments within the schemes, generating £4million of commission, of which £2.1million went to Michael Conway, a director at CBW........Read more HERE