Regulatory Alerts2024-12-11
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CP24/27: Advice Guidance Boundary Review – proposed targeted support reforms for pensions
The Financial Conduct Authority proposes a new model of 'targeted support' for Defined Contribution pension consumers, allowing firms to provide suggestions based on pre-defined consumer segments rather than individualized holistic advice. This consultation seeks feedback on the proposed framework, including specific conduct standards and requirements for firms to define scenarios, monitor outcomes, and ensure appropriate consumer protections. The regulator intends to consult on detailed rules and guidance by the end of the first half of 2025, with comments on this paper due by 13 February 2025.
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