Tag Archives: Port Talbot

Port Talbot needs a plan B

Posted on January 19, 2024 by henry tapper

I’m not going to try and to compete with the BBC, Its reporting on the announcement that the blast furnaces at Port Talbot will be closing and 3000 jobs will be lost at Tata Steel, is magnificent.  Give this a … Continue reading →

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Just desserts still have to wait – 6 years on.

Posted on November 9, 2023 by henry tapper

OTD in 2017 that I persuaded Henry Tapper to visit Port Talbot with me to listen to BSPS steelworkers. Appropriate therefore, that exactly 6 years on, the Daily Mail exposes Darren Reynolds. Six years on, astonishingly, the fight for justice … Continue reading →

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Port Talbot’s chicken dinner man gets fined £2m.

Posted on September 28, 2023 by henry tapper

Darren Reynolds has been banned for acting as a Director and fined over £2m for losing just under £24m of his client’s money in high risk unregulated investments. The FCA’s actions relate to activities prior to Reynolds becoming notorious for … Continue reading →

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Jo Cumbo remembers Port Talbot

Posted on April 29, 2023 by henry tapper

If you could go to one of the two Facebook support groups for mis-sold BSPS pension Scheme this bank holiday weekend, you’d find this post Al Rush has put the last four minutes of this week’s VFM podcast, the minutes … Continue reading →

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Newscape – the steelworker’s fractional scammer – bites the dust

Posted on January 17, 2023 by henry tapper

When I cast my mind back to the dark days of 2017 when Darren Reynolds was sourcing leads for his advice from Celtic – one fund appeared on the SIPP statements of steelworkers we met which I had never heard … Continue reading →

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Which stranded assets should we pick?

Posted on December 8, 2022 by henry tapper

Like any liberal do-gooder, my first reaction to hearing the Government had cleared the digging of a £165m mine in Whitehaven with “dismay” – or an expletive not fit to be published. My second reaction was “what do I know” … Continue reading →

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Why steelworker’s compo is set to fall by £15,000

Posted on November 29, 2022 by henry tapper

The FCA has published its proposed redress scheme for steelworkers but it looks like the compensation will cost £49m rather than the estimated £71m earlier this year. The new compensation levels are now estimated to average  £45,000 (down from £60,000)  … Continue reading →

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The pension transfer mess: who pays and what’s paid?

Posted on July 22, 2022 by henry tapper

There’s an irony to PAC’s assertions. It was extremely critical of the FCA in almost every aspect but never even questioned a key one: the FCA’s own assessment that transfers were very widely unsuitable at BSPS. This is now being … Continue reading →

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The dark side of pension freedom; the NAO report on the FCA and BSPS

Posted on March 18, 2022 by henry tapper

The National Audit Office has produced what will no doubt become the definitive report on the British Steel Pension Scheme and what happened to it. It focuses on how the FCA was organised to prevent, identify, and respond to unsuitable … Continue reading →

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Whatever happened to the managers of the steelworker’s SIPPs?

Posted on January 2, 2022 by henry tapper

  This morning I had the chance to praise Hargreaves Lansdown for innovative work helping self-invested pension policyholders understand the risk they take in their portfolios. SIPPs can  and do offer those who want to self-invest , the opportunity to … Continue reading →

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