The FCA will carry out further work on defined benefit (DB) transfers after it revealed "concerning and disappointing" findings from its marketwide data-gathering exercise.
This morning (19 June) the Financial Conduct Authority (FCA) published the results of its data dive on DB transfers that it carried out earlier this year. The FCA said the results made for "concerning and disappointing" reading because it found firms are recommending large numbers of DB transfers, despite the regulator's stance that transfers are likely to be unsuitable for most clients. The financial watchdog revealed it had already started visiting firms in reaction to the data probe, starting with those most active in the market. The data The FCA surveyed 3,015 firms for its p...
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