01 · In plain English
What happened.
The Upper Tribunal (Tax and Chancery Chamber) upheld the FCA’s decision to ban Richard Brian Fenech from working in financial services on 27 July 2026. The tribunal found he acted dishonestly by providing a backdated appointed representative agreement and failed to properly oversee adviser Heather Dunne, whose pension transfer work between April 2015 and June 2017 led to over £126m being transferred. The tribunal reduced the financial penalty to reflect its finding that 18% of Dunne’s clients received unsuitable advice and that only Fenech’s income from his relationship with Dunne should be counted when calculating his penalty. The tribunal’s decision was published on 27 July 2026 and the FCA issued final notices following that judgment.
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
- Richard Brian Fenech
- Individual reference number
- RBF00006
- Register status
- Prohibited
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