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FSA warns IFAs on pension review

The FSA is warning that it will look closely at firms that fall behind in settling personal pension review cases.

The warning comes as the FSA says evidence shows progress is slowing down in some firms, although half of the phase two cases have now been settled and £2.7bn paid in redress.

FSA director of the pensions review Philip Robinson says: “Despite the overall steady progress we are beginning to see sings of some firms – small IFAs – slipping behind. We will not tolerate any lessening of effort and those firms who are currently foot-dragging will find the regulator paying them close attention.”

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