On the 5th December the FCA issued its second MMR Implementation Readiness Survey request via email, and followed it with a chaser on 16th December. The last survey prompted a 68% response rate with two thirds of mortgage brokers that responded being on track.
At recent MMR workshops the FCA were clear that they were hoping to increase the response rate this time to what is a straight forward readiness questionnaire.
The survey will be tailored to your individual firm. You will be asked if you are an intermediary, if you have a plan (see here), whether you will implement on time and whether you need any further communications from the FCA.
Pension Transfers – considering a workplace pension
Alistair MacDougall Compliance Defined Benefit, FCA, Pension, Pension Transfer, PI, Switch, transfer
We recently reviewed a pension transfer report where the client was recommended to transfer out of the defined benefit scheme into the client’s pre-existing SIPP. We considered that the recommendation to transfer appeared to be appropriate. However, the client had what the FCA calls an ‘available qualifying scheme’, more commonly referred to as a […]