A dispute over whether cashflow modelling is to become “effectively mandatory” for DB transfers has broken out between a software firm and the FCA.
The Financial Conduct Authority has today published its draft rules outlining how it plans to regulate claims management companies (CMCs) when it takes over their regulation from 1 April 2019.
Aegon has warned that concerns over investing in unregulated investments could damage how consumers view SIPPs despite few SIPPS allowing unregulated investments.
Mattioli Woods is to cease providing pension transfer advice to individuals with safeguarded benefits and is now undertaking a full review.
PIMFA has defended contingent charging in a robust response to the FCA’s consultation on improving the quality of pension transfer advice.
There isn’t anything wrong with a defined benefit transfer for the right person at the right time for the right reasons, but it is a complex decision. So rightly, I believe, there is the advice requirement but this can cause issues for those that can’t afford to pay for advice.
The FCA has warned that some consumers who choose to take pensions drawdown without advice are failing to engage with the process and are risking financial “harm.”
The Financial Conduct Authority has today proposed a ban on contingent charging on pension transfers and reaffirmed its view that DB transfers should be considered unsuitable unless there is a good reason to transfer.
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.
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