The FCA has written to a further 950 defined benefit (DB) pension transfer advice customers who could be entitled to compensation from the Financial Services Compensation Scheme, taking the total this year to 3,591.
The FCA said letters have been sent to customers of firms in liquidation where past business reviews have identified unsuitable advice was given to some customers. The letters explained to clients they may be entitled to compensation, setting out their options and outlining how they can make a claim to the Financial Services Compensation Scheme. The letters also directed them to the regulator's pension transfer advice checker. This helps them decide whether the received advice was likely suitable, the regulator added. The FCA has also published a full list of firms currently conta...
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