FCA fines compliance officer £75,000 over DB transfer failings

clock • 2 min read

The Financial Conduct Authority (FCA) has fined an individual compliance oversight officer £75,000 for "failing to exercise due skill, care and diligence" with regard to pension transfers in his role at two firms.

The regulator found David Watters had failed to "take reasonable steps" to make sure the advice process in place for Enhanced Transfer Value (ETV) pension transfer exercises was adequate and met re...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

HMRC releases 'crucial' technical note on IHT on pensions

HMRC releases 'crucial' technical note on IHT on pensions

Law firm warns of complexity and risk for families and executors

Jenna Brown
clock 11 May 2026 • 4 min read
TPR launches consultation on revised corporate strategy

TPR launches consultation on revised corporate strategy

Corporate strategy will be driven by a set of six member and market outcomes

Jonathan Stapleton
clock 11 May 2026 • 2 min read
Industry welcomes TPR funding statement but calls for clarity on next steps

Industry welcomes TPR funding statement but calls for clarity on next steps

Industry backs regulator’s call for DB schemes to consider their endgame options and develop surplus policy

Jonathan Stapleton
clock 06 May 2026 • 5 min read
Trustpilot