The Financial Conduct Authority (FCA) is to review the suitability of retirement advice following the pension ‘freedoms' set to be introduced next month.
Publishing its 2015-2016 business plan, the regulator said it will look into both advised and non-advised purchases of retirement products in early 2016, once the reforms have had time to bed in. The sales practices of pension providers will also be scrutinised, to see if there has been improvement since the FCA's review into annuity sales last year. Additionally, the FCA said it will assess firms' practices following the publication of guidance on inducements and conflicts of interest in retail investment advice, and undertake a market study into non-advised sales of investment and p...
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