FCA, FSCS and others praise British Steel work carried out by regulators

BSPS fallout classed as a key ‘issue’ for structured regulatory collaboration

Hope William-Smith
clock • 2 min read

A group of the UK’s regulators including the Financial Conduct Authority (FCA) say they are “proud” of the cross-regulatory work carried out on handling the members of the former British Steel Pension Scheme (BSPS).

The financial services ‘regulatory family' group - which is comprised of the FCA, the Financial Ombudsman Service (FOS), the Financial Services Compensation Scheme (FSCS), The Pensions Regulator (TPR), and the Money and Pensions Service - today (19 April) published it's Wider Implications Framework (WIF) annual report for 2022. The framework looks to create opportunities for ‘structured collaboration' between the five to boost outcomes for firms, consumers and the industry. "Joint engagement work has been necessary to ensure consumers who were unsuitably advised to transfer out of the...

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