FCA dismisses British Steel complaints after lengthy investigation

Regulator acknowledges decision will be ‘disappointing’ for complainants

Jenna Brown
clock • 2 min read

The Financial Conduct Authority (FCA) has not upheld complaints against it concerning its conduct in relation to the British Steel Pension Scheme (BSPS) scandal.

The regulator said it had received a number of complaints which asserted its response to BSPS events was insufficient and failed to adequately protect steelworkers – however, after a thorough investigation into its own conduct, it rejected the claims. In a statement, it said that the watchdog concluded that, "while there have been lessons for us to learn, for example, in strengthening links with partners, such as The Pensions Regulator, we took appropriate regulatory action based on the information available at the time". It added: "We have, therefore, not upheld the complaints. We re...

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