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Suitability reports are now needed for advice against pension transfers, the FCA has stated
The Financial Conduct Authority (FCA) is to press ahead with its plan to require firms to provide suitability reports for advice against a pension transfer despite concerns over additional advice costs.
In its policy paper PS18/20, published on Thursday (4 October), the FCA confirmed plans to require firms to provide a suitability report during pension transfer advice, regardless of whether the recommendation...
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