New delay for contingent charging ban decision

The watchdog quietly updated the timeline of its pension transfer advice consultation, with its revised handbook text now due to be published in the second or third quarter of this year, rather than the first quarter, as originally planned. The consultation also explored whether to introduce a form of "abridged advice" and a crackdown on high ongoing charges post-transfer. The FCA had voiced concerns that too many advisers were delivering poor advice, partly driven by conflicts of interests in the way they are remunerated. A ban on contingent charging has been on the cards since March...