FCA orders 60 advice firms to carry out DB transfer past business reviews

Sophie King
clock • 3 min read
FCA orders 60 advice firms to carry out DB transfer past business reviews

The Financial Conduct Authority (FCA) has identified 60 advice firms that should carry out past business reviews over potential pension transfer mis-selling. According to a submission made by the regulator to a Work and Pensions Committee inquiry, the financial watchdog said it has "intervened extensively" to improve the rate of suitable defined benefit (DB) transfer advice. This interaction, it said, resulted in direct contact with 104 advice firms. Of those advice firms, there were 39...

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