Inside the FCA’s new DB transfer tool
Michael Klimes finds praise for the FCA’s new DB assessment advice tool, but criticism over slow action from the regulator
By Michael Klimes 4
th February 2021 6:00 am
Better late than never, so the saying goes. The FCA has certainly been tardy when it comes to the defined benefit transfer market. It pushed through rules to clean up the mess only after the sector’s reputation was tarnished by the British Steel scandal.
Better late than never has been tested again with its unveiling of an assessment tool advisers can use to check their recommendations.