The regulator identified 30,000 instances of unregulated activity in the last year and needs more investment to better tackle pension scams, FCA executive director of enforcement and market oversight Mark Steward told MPs.
Speaking to the Work and Pensions Committee today (6 January) about tackling pension scams, Steward (pictured) said the Financial Conduct Authority (FCA) has received 10,000 investment fraud-related cases reported to its contact centre in the last 12 months and within that number, there will be pension money that has gone missing. "Within that field of unregulated activity there are a lot of other issues, not just potentially pension fraud or scams, but that number of 30,000 is a significant increase again on previous years. What that is indicative of is a rising trend here." Elsewhe...
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