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The chair in the Function and Pensions Committee stated in a December fifteen letter on the FCA that the regulator experienced Formerly acknowledged several companies were being the focus on of “ongoing supervisory activity” for presenting perhaps unsuitable pension transfer guidance to plan members.
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A spokesman for that FCA verified that the regulator had acquired the letter and reported that it would be responding in the coming days.
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Area mentioned that transferring out of described reward pension schemes like the British Steel Pension Plan was “normally a terrible strategy” and firms “routinely advising folks” to take action must be right away “shut out” from making these types http://www.lcdtvenclosure.com of suggestions to personnel.
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“I remain worried that its In general strategy has long been grossly insufficient,” Field explained in a press release Monday. “The FCA is a purchaser security body. It will behoove them to prevent pussy-footing around and start defending buyers.”
A brewing disaster around advice supplied to associates in the British Steel Pension Scheme has triggered urgent talks in between the regulator and members of the U.K. parliament.