Hartley Pensions and FCA enforcement action (No. 2)
Tabled 1 July 2026 by Brian Mathew
That this House notes with great concern the slow administration of Hartley Pensions Ltd; notes that this is causing considerable financial stress and hardship for the many pension holders who are still waiting for the transfer of their pension; further notes that administrators UHY Hacker Young have successfully applied for an extension three times, with administration now set to run until July 2027, and that further extensions are possible; notes the FCA's warning notices alleging that Hartley improperly put its interests above those of pension holders, provided false and misleading information to the regulator, and withdrew substantial amounts of customers' pension funds without their consent and for an individual's own financial benefit; further notes that as of October 2025 only 2,636 of 6,000 clients contacted had been transferred to another provider; and calls on the Government to work with the Financial Conduct Authority to conclude enforcement proceedings swiftly, accelerate the transfer of remaining pension holders, and review the regulatory framework for self-invested personal pension operators to prevent a recurrence of such harm.