New delay for contingent charging ban decision

Six month delay

James Phillips
clock • 2 min read

The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Your profession

Angela Rayner resigns after ethics report finds warnings ignored on tax advice

Angela Rayner resigns after ethics report finds warnings ignored on tax advice

Following investigation

Sahar Nazir
clock 05 September 2025 • 2 min read
What will cryptocurrency regulation mean for financial advice?

What will cryptocurrency regulation mean for financial advice?

‘Regulation doesn’t automatically make something a sound investment’

Isabel Baxter
clock 05 September 2025 • 8 min read
Wealth management M&A: Integration is the competitive advantage

Wealth management M&A: Integration is the competitive advantage

'M&A is reshaping UK wealth management at an unprecedented pace'

Jim London
clock 05 September 2025 • 4 min read