Paul Thornton has issued a consultation asking whether The Pensions Regulator should work more closely with the Financial Services Authority to cover a gap in regulation of IFAs advising on transfers between occupational pensions schemes.
The 20-page document published by the Department for Work and Pensions (DWP) sets out the initial evidence received by Thornton, a previous president of the Institute of Actuaries, who was appointed in January to head up an independent ‘Review of Pensions Institutions’. In the consultation paper, which has a three-week deadline for responses, Thornton says he has tried to hear as much evidence as possible before publishing the consultation paper, and he says the feedback received so far indicates the new bodies, the Pension Protection Fund (PPF) and TPR “have moved both fast and effective...
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