Firms are now obliged to inform consumers how much they could gain from shopping around for annuities under new rules which take effect this week.
The FCA is proposing to retain a wider-scale public register of advisers and others working at financial services firms, it announced this morning.
The FCA has launched a probe into possible ‘harm’ to consumers in the non-workplace pensions market.
The Chartered Insurance Institute is preparing the launch of a new pension transfers qualification following FCA plans to tighten the advice requirements for the transfer of safeguarded benefits.
Nearly 3,600 consumers have been compensated for wrongly being advised to switch savings into ‘risky’ assets within SIPPs – at a cost of £105m.
A pensions business is immediately halting advice on DB pensions transfers, following discussions with the regulator.
Inspectors from the The Pensions Regulator have been sent to visit businesses in the Greater Manchester area as part of investigations into compliance.
An executive director at The Pensions Regulator has called for pension transfers to SSAS to be banned.
The FCA’s chief executive has warned some pension providers they must take action quickly after the regulator found customers were still at risk of high costs and charges.
An adviser is set to be banned and fined over 'unsuitable' advice related to switching pension funds via Sipps into unregulated investments.
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