DB pensions
At least 21 pension transfer firms operated without PI cover
FCA director of life insurance and financial advice warns the regulator is taking ‘very strict lines’
Will contingent charging ban limit access to advice?
Only 46% of UK advisers believe the FCA’s ‘abridged’ proposal will be effective
Over two-thirds of firms potentially gave harmful DB advice
‘Alarming’ information prompts UK regulator to write to 1,841 advisory businesses
DB transfer ‘gold standard’ slated
But PFS chief says it works with the UK regulator to complete checks
Persistently poor DB pension transfer advice vexes FCA
As letter to advisers re-emphasises the watchdog’s expectations