Regulatory AlertsFG21/3: Advising on Pension Transfers
The Financial Conduct Authority issued this guidance to require firms to implement robust processes and record-keeping frameworks for defined benefit to defined contribution pension transfers. Advisers must identify existing procedural weaknesses and establish appropriate oversight to ensure all recommendations are suitable and properly documented. The requirements apply immediately to transfer advisers, insurers, and scheme operators, aiming to improve consumer outcomes and sustain the pension advice market.
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