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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

Why making the right impression with buyers counts

Why making the right impression with buyers counts

Support for business owners crucial in 'complex' sale process

Roderic Rennison
clock 11 February 2025 • 4 min read
All the advice firm acquisitions that have taken place in 2025

All the advice firm acquisitions that have taken place in 2025

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 10 February 2025 • 1 min read
The advice four-day working week: 'It's crucial to be forward-thinking'

The advice four-day working week: 'It's crucial to be forward-thinking'

Financial industry remains ‘largely outdated’

Isabel Baxter
clock 07 February 2025 • 2 min read