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FCA policy chief: We can’t force people to save

The FCA’s policy director has said that the regulator will not “force individuals to save their own money” as it lines up a new joint pensions strategy with The Pensions Regulator. Speaking at a seminar outlining the FCA’s approach to the new strategy, for which it is currently seeking industry feedback, David Geale said that […]

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Pru adviser under fire over transfer value confusion

Prudential must compensate a customer whose transfer value was significantly reduced after a meeting with an in-house adviser. According to a Financial Ombudsman Service decision, the customer, called Mr L, was told on 2 March 2017 that the transfer value for his pension policy was £141,981. He met with a Prudential adviser, who recommended he […]

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Abraham Okusanya: Small advice firms are far from dead

Small firms have never been busier, more profitable and optimistic about the future In 1897, the New York Journal reported that American writer Mark Twain was dead. In fact, it was his cousin who had perished. This prompted Twain to politely inform the paper “the reports of my death are greatly exaggerated”. You would be […]

Market welcomes focus on pensions in FCA business plan

The FCA is right to place long term savings and pensions as one of its seven core focus areas, but will have its work cut out to regulate the market, according to experts. In its business plan for the year ahead released this morning the regulator said work was in place to target high-risk and […]

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