FCA called upon to do more to protect DB and DC members from scams

Hope William-Smith
clock • 1 min read

The Pension Scams Industry Group (PSIG) has called on the Financial Conduct Authority (FCA) to consider further interventions to protect pension scheme members from scams. This comes after the regulator announced the end of contingent charging from 1 October in a policy statement last week. The PSIG has said both defined benefit (DB) and defined contribution (DC) scheme members need the FCA to now "go further" given members' increased susceptibility to scams during the coronavirus pandemic. More than 11,000 coronavirus-themed scams totalling over £5m have been brought to ActionFrau...

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