The FCA has urged victims of unauthorised financial adviser Ian James Hudson to come forward by 3 July after a court ordered compensation for his victims.

The UK’s financial regulators say working together has improved outcomes, particularly in relation to failings by SIPPs operators, the British Steel Pension Scheme scandal and the introduction of Consumer Duty.

The Financial Conduct Authority has warned clients of failed SIPP firm Hartley Pensions to be wary of scams or fraudsters as administrators of the collapsed provider begin to send out information about the transfer out process.

The FCA has provisionally banned two financial advisers for “acting without integrity” in relation to SIPPs pensions advice involving £10m of investments.

The number of approved persons given the green light to work at appointed rep firms within three months of application has significantly improved in the latest quarter.

The FCA has instigated criminal proceedings against Kristofer McGuire, Keith Williamson and Karla Walker with fraud for their alleged involvement in a £8m high-risk trading scheme targeting pension savings.

The FCA has responded robustly to complaints about the time it took to provide redress to victims of the British Steel Pension Scheme (BSPS) scandal.

More than half of all pension pots are still being cashed out in full, as fewer people seeking professional guidance, new figures from the FCA have revealed.

The FCA’s latest retirement income market data for 2022/23 published today has revealed that the overall value of money being withdrawn from pension pots is falling, dropping 5% to £43.199m from £45,638m in 2021/22.

The FCA is proposing to increase its minimum and flat rate fees, as well as application fees, by an average 8.75% which could mean Financial Planners facing an overall hike in charges of 4.9%.