FCA's 'polluter pays' regulation will add to DB transfer advice burden

The proposals will require personal investment firms to calculate their potential redress liabilities at an early stage, set aside enough capital to meet them and report potential redress liabilities to the FCA. Any firm not holding enough capital will be subject to automatic asset retention rules to prevent them from disposing of their assets. OAC head of redress solutions Brian Nimmo said the reforms could have a major impact on firms advising on DB transfers. He said: "Polluter Pays reforms will further increase the regulatory and financial burden on advisory firms - both now an...