February 2024: Month in review with news editor Sahar Nazir

Take a look at some of the news and feature highlights of the last month

Sahar Nazir
clock • 3 min read

This February witnessed several significant developments in the advice sector. Regulatory scrutiny and enforcement including notable actions taken by The Pensions Ombudsman and the Financial Conduct Authority (FCA) came into the spotlight as well as the impending abolition of the lifetime allowance (LTA).

Policy watch… The Pensions Ombudsman (TPO) upheld a complaint against Rowanmoor Trustees on 1 February after it was found to have not fulfilled its duties as a trustee of a small self-administered scheme (SSAS). TPO argued that Rowanmoor failed to perform sufficient due diligence in relation to a SSAS scheme. Elsewhere, the FCA issued warnings to two advisers on for "recklessly designing a seriously flawed advice model" for defined benefit (DB) transfers. The watchdog also reflected on the progress of the Consumer Duty regulation as executive director of consumers and competition Sh...

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