Daniel Thomas
Individual3 Sep 2026Proposed penalty · £742,700
Decision notice – not final. The subject can refer a decision notice to the Upper Tribunal, and the action, including any penalty, takes effect only when the FCA issues a final notice. Proposed penalties are not counted in the tracker's fine totals.
Filed under2026
01 · In plain English
What happened.
The FCA has decided to ban Daniel Thomas from working in financial services and fined him £742,700 after finding he recklessly gave defined-benefit pension transfer advice he was not qualified or authorised to give. Thomas — a director and financial adviser at DPT Financial Solutions — advised 53 clients about 63 transfers over five years, repeatedly misled clients and pension providers about his qualifications, destroyed client records, provided misleading information to his principal firm (his business was an appointed representative) and failed to cooperate with the FCA’s investigation. The action is a Decision Notice dated 3 September 2026; Thomas has referred the Decision Notice to the Upper Tribunal and the FCA will take no further action until the Tribunal reaches its decision.
Summarised from the FCA's notice and press reports. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the FCA published.
The FCA has decided to ban Daniel Thomas from working in financial services and fine him £742,700 after finding he recklessly gave defined benefit pension transfer advice he was neither qualified nor allowed to give.
Source: FCA press release "FCA decides to ban and fine Daniel Thomas over unauthorised pension transfer advice", 3 September 2026.
03 · Press coverage
How it was reported.
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