Regulatory Alerts2024-03-26
Added · Updated
PS24/15: Regulatory framework for pensions dashboard service firms
The document establishes the final regulatory framework for firms operating a Pensions Dashboard Service (PDS), bringing this new activity within the FCA's regulatory perimeter. Firms must obtain FCA authorization and specific permission to operate, adhering to existing Principles for Businesses, the Consumer Duty, and new conduct standards in the Pensions Dashboard Code of Business Sourcebook (PDCOB). The rules prohibit transactional capabilities and restrict data export to protect consumers from scams and poor outcomes, while allowing Post-View Services (PVS) for information and guidance. The gateway for receiving authorization applications remains closed until the Government and Pensions Dashboards Programme provide necessary technical information.
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