The Financial Conduct Authority (FCA) has imposed a ban and a fine on Daniel Thomas for providing unauthorized pension transfer advice. This enforcement action occurred on September 3, 2026, and requires Thomas to cease all activities in financial services.
The FCA relied on its enforcement powers under the Financial Services and Markets Act 2000, specifically citing the reckless provision of defined benefit pension transfer advice without the necessary qualifications or permissions.
This action applies specifically to Daniel Thomas, who is now prohibited from working in financial services due to his unauthorized advice.
There is no stated deadline or transitional period for this enforcement action, as it is an immediate ban and fine.
The FCA has fined Thomas £742,700, reflecting the severity of his actions in providing unqualified pension advice.