FCA confirms DB transfer redress review to start by year-end

The financial watchdog said it would set out its expectations of firms while the review is ongoing, including clarifying how firms should apply or interpret the guidance in particular areas. The review will focus on finalised guidance 17/9 (FG/19), which sets out how firms should calculate redress for unsuitable DB transfers. When it was published in 2017 the watchdog committed to reviewing the guidance at least every four years. The guidance is used by firms to put consumers back in the position they would have been if they had remained in their DB scheme. It is done by calculatin...