FCA bans contingent charging on DB transfers

Ban considered since March 2018

Hannah Godfrey
FCA bans contingent charging on DB transfers

The Financial Conduct Authority has banned the use of contingent charging in defined benefit (DB) transfer advice.

In a policy statement issued on Friday (5 June), the regulator said the ban will remove conflicts of interest that arise when a financial adviser only gets paid if a transfer goes ahead. The FCA also...

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