Unsuitable advice prompts FCA U-turn on DB transfer assumption

clock • 2 min read

The Financial Conduct Authority (FCA) has abandoned plans to drop the unsuitable defined benefit (DB) transfer assumption as a result of concerns about unsuitable advice being given in the area.

In a policy statement published today, the FCA said its recent supervisory work had presented "significant evidence of unsuitable advice being provided". In a consultation released last June, th...

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