The regulator has so far looked into 92 firms as part of its multi-firm supervision exercise on defined benefit (DB) transfers, a freedom of information request submitted by Professional Adviser has revealed.
Last month, the Financial Conduct Authority (FCA) said it was looking into firms that were undertaking what it considered to be "a lot of transfers" - though no specific number had been set as a 'trigger point for' a review. Whether a firm requires looking into is decided by the regulator on a case-by-case basis, it confirmed. Professional Adviser's freedom of information request also revealed the multi-firm supervision exercise on DB transfers has been progressing since October 2015. The regulator confirmed this was part of ongoing supervisory work that has been taking place by ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
