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The Financial Conduct Authority (FCA) has issued warnings over two firms offering financial advice without its authorisation.

New emergency asset retention rules from the Financial Conduct Authority (FCA) have been applied to 101 firms who provided pension transfer advice for former British Steel Pension Scheme (BSPS) members.

The number of pension trustees who are encouraging members to take regulated financial advice has increased by 9% over the past year.

SIPP industry veteran John Moret has called on the Treasury to review and rewrite SIPP regulation, saying the current framework is ‘a mess and not fit for purpose’.

A pair of pension trustees have pleaded guilty to making illegal loans from a company pension scheme to the scheme’s employer.

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