An advice firm that was issued with supervisory notices relating to advice it issued around British Steel Pension Scheme (BSPS) transfers has failed to have its complaint against the Financial Conduct Authority (FCA) formally upheld.
In a Complaints Commissioner final decision notice published yesterday (1 December), commissioner Amerdeep Sohal backed the FCA over its communications with the complainant about how to proceed their case. It comes after a complaint was made to Sohal in August regarding the FCA's issuing of a first supervisory notice and second supervisory notice (SSN) to the firm - ‘firm A' - over transfer advice. The complainant told Sohal the FCA documents "contain inaccuracies" and that they were not given a fair opportunity to respond to the regulator. "[The complainant] has explained that the...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
