The FCA has fined Pembrokeshire Mortgage Centre Limited (trading as County Financial Consultants) £2,354,331 for providing "woeful" and unsuitable advice to consumers to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes.

The FCA is to push ahead immediately with plans to warn pension savers of the corrosive effect of inflation on cash savings.

The FCA is set to open the door to regulated 'simplified' financial advice to make advice cheaper and more accessible.

The Financial Services Compensation Scheme has declared in default its fifth financial adviser firm this month.

The Financial Conduct Authority said today that its expects more than 1,000 British Steel Pension Scheme (BSPS) members hit by poor pension transfer advice to start receiving redress calculations in 2023.