Significant changes to the rules around pension transfer advice apply as from 1 October 2020. The changes include, the option of abridged advice, new requirements for suitability reports, the need to consider a workplace pension as the destination for transferred funds and, not least, the ban on contingent charging.
We have published summaries of the rules in previous articles which you can read here.
To supplement those summary articles, we will be running a series of webinars, starting late October, that will provide more detailed explanation of what is required and how firms can satisfy the new rules.
FCA expectations – temporary long term absence
Richard Foster Compliance 2020, 2021, Certification, Conduct, Directory, FCA, PI, Register, Senior Manager, transfer
Following consultation in CP20/23, which was published in December 2020, the FCA has made changes to the Handbook. The affected sections are: SYSC 25.4 FIT 1.3 SUP 10A.14, 10C.9, 10C.10, 10C.11, 10C.14, 10C Annex 2G and 10C Annex 6R Form D In summary, the changes to the Handbook are intended to reflect the FCA’s […]