Unsuitable advice prompts FCA U-turn on DB transfer assumption
Concern over unsuitable advice
The Financial Conduct Authority (FCA) has abandoned plans to drop the unsuitable defined benefit (DB) transfer assumption as a result of concerns about unsuitable advice being given in the area.
In a policy statement published today, the FCA said its recent supervisory work had presented "significant evidence of unsuitable advice being provided". In a consultation released last June, the financial...
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