FCA writes to regulated providers for data on SSASs

Relating to benefit withdrawals

Hannah Godfrey
clock • 2 min read

The Financial Conduct Authority (FCA) is looking into small self-administered schemes (SSAS) sold by regulated providers, it has confirmed.

In a note sent to providers it asked for data relating mainly to benefit withdrawals from SSASs post pension freedoms. However, the regulator is not asking for information on non-standard investments or investments in general held in SSAS, as is the case with SIPPs. Professional Adviser understands this is the first time the regulator has asked for this data. In a policy statement on retirement income data in July, the FCA stated regulated companies are required to give it data on products which fall outside of the watchdog's regulatory remit - such as SSAS - in order to "further s...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Law, not likes: Cracking down on social media financial promotions

Law, not likes: Cracking down on social media financial promotions

‘Every individual social post or communication must comply with the rules’

Sarah Wylie and Owen McLennan
clock 28 October 2024 • 4 min read
How Labour can support investment management vibrancy

How Labour can support investment management vibrancy

The formation of a new government – now just over 100 days’ old – has brightened the spotlight on UK financial services regulation, writes IIMI CEO Dani Hristova

Dani Hristova
clock 28 October 2024 • 4 min read
Number of non-financial misconduct reports in the City spikes in three years

Number of non-financial misconduct reports in the City spikes in three years

FCA reveals survey results

Cristian Angeloni
clock 25 October 2024 • 4 min read