The Supreme Court has confirmed the UK’s Economic Conduct ruling (FCA) to Bani Toni Fox and David Brian Price from working in financial services and recall their senior executives’ approvals. The court also agreed that it should pay significant financial sanctions.
Between April 21, 2015 and October 31, 2017, CFP Management Ltd Directors, Ms Fox and Mr Price, informed 1,470 pensions worth more than £ 392 million. They designed, supervised and operated in person a defect of advice model designed to lead to retirement transfer. Despite the decades of experience, they failed to properly examine the financial statements and dangers of customers, leading to inappropriate transfers that violated FCA rules, including members of the British Steel Pension Scheme program.
FCA first decided to cover Ms Fox £ 681,536 and Mr Price £ 632,594. Following the court’s guidance in March 2025 on how to calculate the tax and interest on the refund, Mrs Fox and Mr Price provided more details and FCA re -calculates the fines. The Court of Justice has now approved the calculations and fines of the FCA of £ 567,584 for Mrs Fox and have been imposed £ 465,415 for Mr Price.
The Court also agreed with the FCA that the counseling procedure designed and operated by the couple poses a real risk to customers and that both people had committed a very serious violation of FCA rules. In addition, that Mrs Fox and Mr Price do not have the integrity needed to work in the financial services industry.