FCA bans contingent charging on DB transfers

Ban considered since March 2018

Hannah Godfrey
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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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