Second British Steel firm regains pension transfer permissions

Nearly a year of restrictions

Hannah Godfrey
clock • 1 min read

Mansion Park, a firm associated with the British Steel pension scheme saga, has become the second adviser firm involved in the episode to regain its pension transfer permissions after almost a year of restrictions.

The Financial Services Register entry for the firm has changed to show no evidence of restrictions on the firm, whereas it had previously stated the firm must "cease all regulated activities relating to pension transfer business". At a Work and Pensions Committee hearing in December, Financial Conduct Authority (FCA) director of supervision Megan Butler revealed the firm had had its permissions suspended in the wake of the British Steel saga.  A statement issued by the firm at the time said it planned to implement any procedural changes recommended by the FCA to "further improve the i...

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 Retirement

Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read
How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read