FCA opened 67 investigations into DB transfer advice over last three years

However, while the number of complaints to the Financial Ombudsman Service (FOS) has significantly increased, the number of investigations by the FCA is falling. A Freedom of Information (FOI) request made by financial consultancy firm Duff & Phelps disclosed that four investigations into firms and seven investigations into individuals suspected of DB transfer advice misconduct have been opened by the FCA in 2020 so far. A total of 46 cases were opened by the FCA in 2018 but in 2019 this number dropped to a total of 10 cases. As of June 2020, there were 1,965 firms licensed to prov...