Andrew Bailey: 12% of adviser firms pulled out of DB transfer market
About 370 firms – or roughly 12% of the adviser industry– have left the pension transfer market in the last two years, FCA chief executive Andrew Bailey has revealed.
‘FCA’s failure to supervise leading to FSCS levy hikes’ – PIMFA
“Ongoing failure” of the FCA supervisory regime is partly to blame for the colossal increases in the Financial Services and Compensation Scheme (FSCS) levy, an industry body has said.
FoI request: Pension transfer permission withdrawals spike
The number of financial advice firms who have withdrawn their pension transfer permission application has jumped fifteen-fold in one year, an FoI request by Professional Adviser has revealed.
Parliamentary steelworker summit: FCA ‘actively looking’ at adviser PI
The FCA has admitted it is “actively looking at” PII and capital adequacy requirements for advisers but has declined to give any further information.
Ex-FCA deputy chief risk officer: The failings I’ve seen in DB transfers
Good financial planning can have life-changing repercussions but the levels of unsuitable DB transfer advice has been alarming, writes Paul Dyer. Here, he looks through common failings he's seen and offers up considerations for advisers...
Gareth James: In the post-pension freedom years give regulators a break
I have a lot of sympathy for the regulators in the pension arena right now - there is a sentence I would not have...
Troubled SIPP operator Guinness Mahon sold to Hartley Pensions
Troubled SIPP operator Guinness Mahon has been sold to Hartley Pensions after entering administration earlier this month.
Administrators from Smith & Williamson (S&W) were appointed...
Pension complaints continue to rise – FOS figures
Complaints to the FOS about DB transfers and SIPPs steadily increased between the second and third quarters of last year, official figures show.
London MP to push for ‘fundamental’ review of FSCS levy
Newly-elected Conservative MP for Cities of London and Westminster Nickie Aiken has said she will call for a “proper, fundamental review” of the FSCS levy funding after hearing from financial advisers.
Lisa Webster: 2020 the year of the pathway
When thinking about the imminent arrival of drawdown investment pathways Lisa Webster says the old adage “square peg and round hole” springs to mind. Here she discusses how advisers will deal with the new requirements
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New delay for contingent charging ban decision
The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.
