Quilter calls for urgent action on pension transfer troubles
Almost a year since ‘lacklustre’ review of regulations
Pension Transfers
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FCA fines advice firm £898K and bans pair over British Steel pension transfers
Firm operated a contingent charging model
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FSCS declares Birmingham-based firm in default over pension advice
The firm is in liquidation
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FCA bans two advisers for poor BSPS advice
Resulting in £9,769,550 of pension funds being transferred to riskier defined contribution schemes.
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FCA bans two advisers over dishonest pension transfer advice
With the FSCS paying over £19m to former customers
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Financial advice company fails
With the FSCS receiving claims relating to the British Steel Pension Scheme
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Duo face bans and £1.3m fine over pension transfer advice
They have referred the FCA decision notices to the Upper Tribunal
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Pension transfer activity falls to lowest level in five years
As FCA updates guidance on how to support vulnerable clients when providing pension transfer advice
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DB transfer values fall by 8%
As 95% of cases reviewed in June raised at least one scam warning flag
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Pension firm calls on UK govt to help speed up transfer delays
‘We must fight against what has become an accepted notion in the industry’
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Two UK IFA firms fail
With the FSCS receiving claims related to pension advice transfers for both
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IFA banned over ‘unsuitable’ DB pension transfer advice
He has been told to pay £850,000 to the FSCS to compensate customers