FCA warns IFA over DB transfer advice
Advice given to customers, including members of the British Steel Pension Scheme, was ‘not compliant’
Pension Transfers
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FCA concerned about pension transfer referrals from overseas advisers
Watchdog will consider an enforcement investigation where it suspects ‘serious misconduct’
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DB pension transfer values rise by 4%
As activity falls to lowest level since September
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Advice business declared in default
UK lifeboat scheme has received one claim against the company related to pension transfers
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DB pension transfer values suffer 4% drop
While 92% of cases raised at least one scam warning flag in February
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UK pension advice company fails
After the firm entered compulsory liquidation in January 2023
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Advice network handed pension transfer ban
Regulator also says it must not take on any new appointed representatives
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DB transfer values stable after 37% slump last year
93% of cases raised at least one scam warning flag in January
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FCA extends asset retention rules for British Steel advice firms
As it writes Dear CEO letter telling pension providers to comply with information requests
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DB transfer values plummet 37% in a year
2022 also saw a large rise in transfers being flagged as showing potential signs of a scam
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44% of pension transfer amber flags raised for ‘unknown’ reasons
Quilter calls on the UK government to tackle this issue
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Pension transfer activity highest since 2020
After it reached a record low in October 2022