FSCS chief 'concerned' by 15% rise in poor pension advice claims

Laura Miller
clock

Financial Services Compensation Scheme (FSCS) chief executive Mark Neale is "increasingly concerned" by the rising number of claims the service is receiving that are linked to advice to move pensions into risky assets held in self invested personal pensions (SIPPS).

The life and pensions intermediation sector saw a 15% increase in FSCS claims in 2013-2014. The scheme said this was because of an increase in SIPP claims and the continuing, although relatively low, volumes...

To continue reading this article...

Join Professional Adviser

 

  • 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.
  • Tap into our community intellignece through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

TPR executive director of regulatory policy, analysis and advice David Fairs

Pensions regulator confirms criminal policy to 'deter' bad behaviour

Range of policies come into force on 1 October as TPR seeks views on yet more powers

James Phillips
clock 29 September 2021 • 3 min read
FCA bans adviser after 'understating' income in tax returns

FCA bans adviser after 'understating' income in tax returns

4Life Financial Planning director

clock 27 September 2021 • 1 min read
Is Chartered status worth the effort?

Chasing Chartered status: Is the long process worth it for adviser firms?

Just 14% of firms hold Chartered status

Hannah Godfrey
clock 08 September 2021 • 8 min read