FCA warns over five 'risky' types of pension transfer referrals from overseas advisers

The UK's Financial Conduct Authority said yesterday (27 April) it was "concerned about overseas firms targeting the UK pension benefits of defined benefit (DB) scheme members living overseas", citing five situations where these "overseas advice models result in poor consumer outcomes". The UK regulator also highlighted that "where we become aware that a firm is engaging in practices that are likely to result in significant consumer harm, we will take appropriate action. For example, where we suspect serious misconduct, we will consider an enforcement investigation".  In its ‘Accepting...