Regulatory Alerts2022-03-30
Added · Updated
PS22/14: Consumer redress scheme for unsuitable advice to transfer out of the British Steel Pension Scheme
The Prudential Regulation Authority and Financial Conduct Authority issued Policy Statement 22/14 to establish a consumer redress scheme for individuals who received unsuitable advice to transfer out of the British Steel Pension Scheme. The document finalizes the regulatory requirements and operational details for firms to identify affected customers and provide appropriate compensation or remedies. This policy aims to rectify past misconduct and ensure that consumers receive fair treatment regarding their pension transfer decisions.
Consultation opened
31/03/2022
Deadline for feedback on Q19 in Chapter 6
12/05/2022
Consultation closed
30/06/2022
Policy statement
28/11/2022
28/11/2022
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