Scams and FSCS issues are 'symptomatic of supervisory failings,' says PIMFA

PIMFA, the trade association for the UK wealth management and financial advice industry, has today given evidence to the House of Commons' Work and Pension Select Committee inquiry into pension freedoms and scams. As part of PIMFA's evidence to the Committee, Tim Fassam, director of policy and government relations at PIMFA, addressed the twin problems of the failure of the Financial Conduct Authority (FCA) to provide adequate supervision of firms, as outlined in the most recent PIMFA whitepaper, and the ever increasing financial burden place on advisers by the Financial Services Compensa...