RP Poll: Will the 'second line of defence' save retirees from bad outcomes?

RP Poll: Will the ‘second line of defence’ save retirees from bad outcomes?

clock

This week's poll asks advisers to share their views on the Financial Conduct Authority's ‘second line of defence' for retirees.

The watchdog said on Monday all pension providers would have to ask retirees looking to access their pension pots a series of set questions about their circumstances and intentions before signing off on their request. Providers will also be required to refer them to available guidance and regulated financial advice. Several industry figures had campaigned for a ‘second line of defence' to be introduced for retirees looking to take advantage of pensions freedom but who were unwilling to take advice or guidance. To share your views on the merit of the 'second line of defence' and whe...

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 Regulation

Identification remains weakest link in vulnerability assessments

Identification remains weakest link in vulnerability assessments

'Relying on the adviser to spot the signs personally is unquestionably impractical'

Jonathan Barrett
clock 26 November 2024 • 4 min read
Advisers revisit processes after FCA's retirement income review

Advisers revisit processes after FCA's retirement income review

Thematic Review of Retirement Income Advice released in March

Jenna Brown
clock 16 September 2024 • 2 min read
Two firms declared in default by FSCS over pensions advice

Two firms declared in default by FSCS over pensions advice

Both Oakwood Financial Management and GO IFA are no longer trading

Isabel Baxter
clock 11 April 2024 • 1 min read