The Financial Conduct Authority (FCA) has fined an individual compliance oversight officer £75,000 for "failing to exercise due skill, care and diligence" with regard to pension transfers in his role at two firms.
The regulator found David Watters had failed to "take reasonable steps" to make sure the advice process in place for Enhanced Transfer Value (ETV) pension transfer exercises was adequate and met regulatory...
Retirement Advantage research suggests
9,700 transfers in 2016/17
Up 0.1% from Q1
Extra burdens for largest firms