The Financial Conduct Authority (FCA) has found evidence of poor pension transfer advice, and, in a separate review, has written to the CEOs of self invested personal pensions (SIPP) providers raising concerns over firm failings.
A review commissioned by the FCA into financial advice to people who were offered enhancements (ETVs) to incentivise them to leave their employers' defined benefit (DB) pension schemes has identified a risk of customers losing out on retirement income due to poor advice. Separately, the FCA has today published the results of a thematic review into SIPP operators. The FCA thematic review found that, despite previous warnings, some firms are still failing to fulfil their regulatory obligations. > Read: FSCS chief ‘concerned' by 15% rise in poor pension advice claims < Many firms we...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
