Be vigilant: Pension reform regulation coming thick and fast
Richard Nuttall explores the latest set of regulatory rule tweaks following pension freedom and urges advisers to stay sharp as more changes are on the horizon
In October last year, the Financial Conduct Authority (FCA) published a consultation paper on pension reform (CP 15/30) which identified a range of issues that affected regulated firms when dealing with consumers accessing their benefits under pension freedom.
In general, I agreed with the majority of the proposed rule amendments, shaped to ensure consumers are fully informed of their options when accessing their pension(s).
The paper also sought opinion on how regulation should be shaped in future, with particular focus on key areas such as insistent clients, pension transfers and non-advised annuities.
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