Pensions

Irish boss of pension management firm criticised by British watchdog

Tony Flanagan, chief executive of Wilton Group, is in a stand-off with the British Financial Conduct Authority (FCA) over what it calls ‘serious operational, financial and regulatory issues’ at a subsidiary called Hartley Pensions

Tony Flanagan, chief executive, Wilton Group: Criticised by the British Financial Conduct Authority

The Irish chief executive of a British pension management firm has been criticised by Britain’s financial regulator in a stand-off over one of its subsidiaries’ handling of client funds.

Tony Flanagan, the chief executive of Wilton Group, has for nearly a year been trying to resolve what the Financial Conduct Authority (FCA) calls “serious operational, financial and regulatory issues” at a subsidiary called Hartley Pensions.

The issues centre on the use of more than £15 million of client funds in unauthorised investments, which Flanagan told the Business Post he was unaware of at the time, and which has since been remedied.