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6

FCA letter on DB transfers causes confusion among providers

A letter the watchdog sent to product providers last week about their defined benefit transfer procedures has inspired a number of conflicting interpretations, Money Marketing can reveal. In a Dear CEO Letter sent to the heads of major providers, the FCA lays out how providers should treat customers fairly in the context of DB to defined contribution […]

Royal London profits up 20% as DB transfers boost pension business

Royal London boosted profits by 20 per cent last year to reach £396m on the back of an increase in pension sales. Individual pension sales increased from £6.3bn to £6.8bn, despite a number of headwinds for the sector as a whole including the end of the auto-enrolment roll-out, turbulent market conditions as a result of […]

8

Adviser trade body sets up group to fight FOS limit increase

Adviser trade body Libertatem is looking to put together a “steering committee” of industry professionals to take their challenges over the increase in the Financial Ombudsman Service’s compensation limit to the FCA. Libertatem says a meeting between itself and the FOS has been confirmed, and it is now seeking meetings with the Treasury and FCA […]

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