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FCA staff warm to new Stratford office location

The Stratford area housing the FCA’s new base

FCA staff are warming to the regulator’s move from Canary Wharf to Stratford, according to its latest board minutes.

Earlier this month, employees began moving to the regulator’s new east London site, with teams such as communications among the first to transition.

Money Marketing previously reported on internal documents showing that staff at the FCA had mixed feelings on the change of location, including over the safety of the new site and increased travel costs for some staff.

However, latest board minutes show that few had actually come to resign over the new location.

The minutes read: “Staff were more positive about the organisation’s move to Stratford and it was noted that during the reporting period there had only been a low number of resignations citing the change of location as a reason for leaving.”

The board meeting also looked ahead to the publication of the Retirement Outcomes Review earlier this month, agreeing over the “need for earlier and clearer articulation of retirement risk warnings for customers when making a decision about how to access their pension savings.”

The review recommended sending wake-up packs to consumers from age 50, incorporating a one-page headline document in accessible language, risk warnings from age 50 onwards, and for the packs to be sent every five years until the customer accesses their pot.

The FCA board also discussed its work on the British Steel Pension Scheme, noting “learnings from that work which could have wider application across the FCA. “

Non-executive director at the FCA and former NS&I chief executive Jane Platt was allowed to take part in the British Steel debate after declaring her role as chair of a master trust Lifesight, and that members of her family were members of BSPS.

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  1. Nicholas Pleasure 16th July 2018 at 9:38 am

    Hmmm. I bet they are.

    Really the IFA supervisory staff should be in offices in Birmingham or Milton Keynes. No need for central London offices when you regulate firms that are predominantly not in central London.

    May also then attract staff with some sense of proportion and understanding of the real world.

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