Displaying items by tag: FCA

The number of approved persons given the green light to work at appointed rep firms within three months of application has significantly improved in the latest quarter.

The FCA has instigated criminal proceedings against Kristofer McGuire, Keith Williamson and Karla Walker with fraud for their alleged involvement in a £8m high-risk trading scheme targeting pension savings.

The FCA has responded robustly to complaints about the time it took to provide redress to victims of the British Steel Pension Scheme (BSPS) scandal.

More than half of all pension pots are still being cashed out in full, as fewer people seeking professional guidance, new figures from the FCA have revealed.

The FCA’s latest retirement income market data for 2022/23 published today has revealed that the overall value of money being withdrawn from pension pots is falling, dropping 5% to £43.199m from £45,638m in 2021/22.

The FCA is proposing to increase its minimum and flat rate fees, as well as application fees, by an average 8.75% which could mean Financial Planners facing an overall hike in charges of 4.9%.

The FCA has opened a consultation into new guidance to be added to its Perimeter Guidance Manual (PERG) as the much-delayed Pension Dashboards Programme continues to inch forwards.

The Financial Conduct Authority has today written to the chief executives of financial advice firms asking them to review their retirement income advice processes. 

The FCA is to conduct a review into what regulated firms are doing to understand and respond to the needs of customers in vulnerable circumstances.

A report this morning from Hargreaves Lansdown found that the pension gender gap continues to grow.