01 · In plain English
What happened.
The FCA fined and prohibited Richard Brian Fenech for breaches of the APER Statements of Principle 1 and 7 (Principle 1: act with integrity; Principle 7: organise and control the firm’s affairs responsibly and effectively) in relation to pensions advice. The FCA’s Final Notice records a prohibition and a financial penalty of £16,046; this followed an Upper Tribunal judgment that upheld the FCA’s ban, finding dishonesty (including a backdated appointed representative agreement) and failures to oversee pension-transfer advice. The tribunal reduced the monetary penalties and confirmed that most unsatisfactory transfer advice was given by adviser Heather Dunne (noted as occurring between April 2015 and June 2017, leading to transfers of more than £126m), while Fenech was criticised for inadequate supervision.
Summary generated from the FCA notice and press reports. Check the final notice below before relying on it.
02 · Enforcement details
What the FCA published.
On 17 September 2026, the Financial Conduct Authority fined Richard Brian Fenech £16,046. This Final Notice refers to breaches of APER Statements of Principle 1 and 7 relating to a lack of integrity and failing to organise and control a firm’s affairs responsibly and effectively in the pensions sector. We imposed a prohibition and a financial penalty. Source: the FCA's published list of 2026 fines. Notice:
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
These links go to other sites. Some may need a subscription.
Track FCA enforcement
Watch the firms and people you work with on Firmwatcher.
We check the FCA register every day. Follow any firm or approved person and get an email when their permissions, requirements, roles, or disciplinary record change.