FCA warns providers to act if advisers lose DB transfer permissions
Letter to pension providers
"We expect you to ensure that your messages to firms put good customer outcomes at the forefront" - FCA 'Dear CEO' letter to pension providers
Pension providers will be expected to check adviser firms have the appropriate permissions to carry out defined benefit (DB) transfers and "act accordingly" if not, the FCA has warned.
In a ‘Dear CEO' letter, the Financial Conduct Authority (FCA) said it expected pension providers to check adviser permissions during DB transfer reviews and "act accordingly" if there had been changes...
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