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With a consultation paper now due in Q1 2020, realistically it could be well into 2021 before nay ban or cap on exit fees will be implemented" - lang cat's Mike Barrett.
The Financial Conduct Authority (FCA) has said it proposes to consult on exit fees in Q1 2020 as it revealed ‘in-specie’ transfer rules would come into effect on 31 July 2020.
In a policy statement published on Friday (13 December), the regulator said it needed to intervene in both exit fees and ‘in-specie' transfers but plans to consult separately on the former in the first...
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