In June of this year, the FCA confirmed new rules and guidance for firms active in the DB pension transfer market. Full details of these changes are available at: New rules: Pension transfer advice
The application of COBS 19.1 (pension transfers, conversions and opt-outs) is being extended so that arranging activities will fall within its scope. Therefore, if your firm only arranges a pension transfer, pension conversion or a pension opt-out without making a personal recommendation, you will need to consider the impact of these changes on your business model.
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