A pensions business is immediately halting advice on DB pensions transfers, following discussions with the regulator.
Advisers will be asked to tell clients that the annuity they are being recommended may not produce the best annual income if the firm lacks details of all market rates.
SSAS market- outright ban or just fix what is broken?
Sipps professionals have expressed sadness and surprise, while also expressing fears for clients, after the FCA revealed four firms had failed over new capital adequacy rules.
The FCA has revealed that four Sipp operators have failed to meet the requirements of the new capital adequacy rules.
The FCA is planning to update the methodology used to calculate redress owed to consumers given unsuitable advice to transfer out of a defined benefit pension scheme.
The FCA has warned pension scheme operators over failing to identify non-standard assets.
The FCA’s chief executive has warned some pension providers they must take action quickly after the regulator found customers were still at risk of high costs and charges.
The FCA has told providers - including Sipps companies - who are operating ‘closed books’ of business to follow new guidance and review their practices within three months of today.
An adviser is set to be banned and fined over 'unsuitable' advice related to switching pension funds via Sipps into unregulated investments.
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