01 · In plain English
What happened.
The Upper Tribunal (Tax and Chancery Chamber) upheld the FCA’s decision to ban Heather Imogen Dunne from working in regulated financial services, finding she acted dishonestly (including by providing a back‑dated appointed representative agreement) and failed to take proper care when giving pension transfer advice. The Tribunal found that between April 2015 and June 2017 Ms Dunne advised about 92% of her clients to transfer out of defined‑benefit schemes (over £126m transferred) and concluded 18% of her clients received unsuitable advice. The FCA’s fines were upheld as appropriate but reduced by the Tribunal; Ms Dunne was fined and banned, and has the usual right to seek further appeal. The Tribunal published its decision on 27 July 2026 and the FCA issued a press release on 3 August 2026 confirming the bans and reduced penalties.
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 Upper Tribunal decided.
Upper Tribunal Tax and Chancery decision of JUDGE ANNE REDSTON and TRIBUNAL MEMBER ADAM SAMUEL TRIBUNAL MEMBER JOHN WOODMAN on 27 July 2026
Source: Upper Tribunal (Tax and Chancery Chamber) decision [2026] UKUT 00281 (TCC), published 27 July 2026.
03 · Press coverage
How it was reported.
- UK tribunal upholds regulator's ban on two pension advisersReuters · 4 Aug 2026
- Tribunal upholds FCA ban on pair involved in pension transfer advice failingsFinancial Conduct Authority · 3 Aug 2026
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04 · Individual details
Person on the FCA register.
- Name
- Heather Imogen Dunne
- Individual reference number
- HID00002
- Register status
- Prohibited
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