We wrote a few weeks ago about incoming changes to how firms access their FCA systems to upgrade data protection. You can read that article here.
The new system will replace the current 6-digit passcode with the user needing to log in using a One Time Passcode (OTP).
The implementation date of 20th January has now been delayed until Thursday 2nd February.
We will provide further updates as and when these are available.
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Transfer advice is complex and may not always be able to be delivered properly before the CETV guarantee expires.
Both of these carry risks for firms. It is essential to understand the regulatory position.
The FCA is planning a new platform to collect data from firms.
What timescales and standards should Scheme Administrators be working to when a member wishes to transfer benefits?
BREXIT latest FCA position statement
Alistair MacDougall Compliance 2019, 2020, FCA, GDPR, Pension, PI
Given recent changes in the UK’s position on BREXIT, the FCA has updated its guidance.