‘Second line of defence' exemption for £10k pension pots
Providers will not have to apply the ‘second line of defence' risk warning procedure to pension pots worth £10,000 or under, the Financial Conduct Authority (FCA) has said.
Providers were told to question customers looking to cash in their pension pots after freedom and choice was introduced to prevent people making bad decisions with their retirement funds. The FCA's...
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