UK. FCA cracks down on steelworker pensions advisers
Three financial advice firms have stopped giving advice to steelworkers on transferring pension savings from a 15 billion pounds pot into other schemes, the Financial Conduct Authority said on Monday.
The financial services industry watchdog has visited seven financial advisers and asked four more for information.
“As a result of this work three firms have stopped advising consumers on pension transfers,” the FCA said in a statement. “The FCA plans to visit a further six firms this week.”
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