Field brands FCA's handling of British Steel workers 'grossly inadequate'

Field wrote the letter to the FCA's executive director of supervision Megan Butler who, at last Wednesday's committee hearing on the aftermath of the closure of the British Steel Pension Scheme (BSPS), struggled to recall the names of four firms banned from carrying out defined benefit (DB) transfers. Field wrote: "While the action the FCA has taken to protect members of the BSPS is of course welcome, I am concerned that it remains grossly inadequate. "More broadly, it is apparent that insufficient protections are in place to prevent consumers with DB pension pots being seduced into a...