Eight financial advice firms have failed to submit a response to the FCA's marketwide probe into DB transfers, a freedom of information request submitted by Professional Adviser has revealed.
In the final quarter of last year the Financial Conduct Authority (FCA) sent questionnaires to 2,868 firms holding pension transfer permissions. The regulator's survey asked in-depth questions about defined benefit (DB) transfers carried out by each firm, such as how many clients the firm had advised to transfer their DB pension, the average value, the number of insistent clients the firm has dealt with, and the number of clients introduced through unregulated introducers. The firms had until 3 December to provide the regulator with the requested information, but many missed the regul...
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