Latest FCA intervention on SSAS signals 'creeping regulation'

In its policy statement on retirement income data last month, the FCA stated regulated companies are required to give it data on products which fall outside of the watchdog's regulatory remit - such as SSAS - in order to "further statutory objectives". The FCA said: "We cannot require firms and individuals that we do not regulate to provide data to us. However, we can require data from FCA-regulated firms on products outside our regulatory remit, to further our statutory objectives. "SSASs and Executive Pension Plans are types of occupational pension schemes and firms should provide d...