Tim Sargisson: FCA must stop DB transfer history repeating

Time for strict limit on DB transfer advisers

clock • 4 min read

It is time to impose some "proper regulation" to stop another DB transfer advice disaster, writes Tim Sargisson. Regulators must act now to head unscrupulous advisers off at the pass

Those who do not learn history are doomed to repeat it The quote above is attributed to writer and philosopher George Santayana, and in its original form it read, "Those who cannot remember the past are condemned to repeat it." I was reminded of this aphorism when I saw the headlines about Rolls Royce and its defined benefit pensions scheme. Rolls-Royce claims it is dealing with a "very high number of transfer payment requests", with many requests arriving with missing information or poorly scanned and unreadable documents. The reason for this activity is because earlier this yea...

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