Why 'polluter pays' could be final straw for DB transfer advice

Are the reforms the straw the broke the camel's back?

clock • 3 min read

The regulator's 'polluter pay' reforms mean the industry now appears to be at a tipping point when it comes to DB transfer advice, writes Brian Nimmo

The intentions behind the Financial Conduct Authority's (FCA) 'polluter pays' are admirable. They seek to drive up the standard of financial advice and ensure advisers are held financially accountable for poor advice when they let down their customers. In amidst the Consumer Duty reforms, it adds a further layer of regulation designed to protect the customer and ratchet up the pressure on advice firms to deliver high-quality services. The essence of the reforms is to make firms liable for any negative consumer outcomes as a result of poor advice, in turn, incentivising better pract...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Crispin Odey slams FCA for pursuing 'agenda' over sexual misconduct claims

Crispin Odey slams FCA for pursuing 'agenda' over sexual misconduct claims

Trial slated for March

Linus Uhlig
clock 04 February 2026 • 2 min read
Non-financial misconduct: Is the FCA's final guidance progress or overreach?

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

'The FCA's rationale is clear: workplace culture drives conduct risk'

David Hamilton
clock 26 January 2026 • 4 min read
FCA ban and £2m fine upheld against 'worst' British Steel adviser

FCA ban and £2m fine upheld against 'worst' British Steel adviser

Upper Tribunal backs regulator's findings in key BSPS misconduct case

Sahar Nazir
clock 19 January 2026 • 2 min read