More than 700 adviser firms gave up pension transfer permissions during FCA probe

Suitability improved

Hannah Godfrey
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The update showed the suitability of defined benefit (DB) transfer advice has risen overall, but the FCA remained concerned by the number of files where the advice appeared unsuitable.
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The update showed the suitability of defined benefit (DB) transfer advice has risen overall, but the FCA remained concerned by the number of files where the advice appeared unsuitable.

More than 700 adviser firms adviser firms have relinquished defined benefit (DB) transfer permissions during the regulator’s probe into the market.

In an update published on Friday morning (5 June), the regulator revealed hundreds of firms had left the market since its probe began, and it was in the process of 30 enforcement investigations that arose...

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