Ben Rees explores how mis-selling and fraud can be prevented

The Financial Conduct Authority (FCA) should take more robust enforcement action against financial advisers who engage in mis-selling and fraud, amid the complexity of the pension transfer market. Improved data collection and more focused investigatory activity could help to underpin a more effective regulatory approach.

What is the problem?

The vast majority of financial advisers who advise on complex pension matters such as defined benefit or final salary transfers take their ethical and regulatory obligations extremely seriously. Yet, unfortunately, a small number of unscrupulous advisers have sought to personally profit at their own clients’ expense. This has resulted in some remarkable scandals, wh...

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