Questionnaires relating to defined benefit (DB) transfer activity will be sent to all firms holding the pension transfer permission this month, the Financial Conduct Authority (FCA) has confirmed.
The FCA told Professional Adviser it would be sending the questionnaires out sometime during August but declined to give any additional information. Back in January, a letter from FCA executive director of supervision Megan Butler to Work and Pensions Committee chair Frank Field first revealed the regulator's plans to collect data from all firms that hold pension transfer permissions. The FCA's latest probe into DB transfer activity marks phase four of its multi-firm supervision exercise, which has been ongoing since October 2015. As part of the exercise, the FCA reviews firms' pract...
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