Publication
FCA clarifies UK authorised firms’ responsibilities relating to acceptance of pension transfer referrals from overseas advisers
United Kingdom | Publication | May 2023
The FCA is concerned about overseas firms targeting the UK pension benefits of DB scheme members living overseas. It reminds UK firms engaging with overseas firms, or offering advice to scheme members based outside the UK in relation to a possible transfer of their DB benefits, to have regard to their regulatory responsibilities.
On April 27, 2023, the FCA published some online guidance for UK firms engaging with overseas firms or offering transfer advice to scheme members based outside the UK.
The FCA explains how the overseas advice model works and outlines circumstances where different scenarios involving overseas advice models are likely to result in poor consumer outcomes. It also provides examples on how those in the UK advising on potential benefit transfers can prevent and detect possible harm, and how they can support good consumer outcomes.
Where the FCA becomes aware that a firm is engaging in practices that are likely to result in significant consumer harm, it will take appropriate action, which may include opening an enforcement investigation.
Recent publications
Publication
The GCR Guide to Life Sciences – Product denigration
Marta Giner Asins and Arnaud Sanz of our Paris office are the authors of a chapter on product denigration that has been published in the third edition of the Global Competition Review’s The Guide to Life Sciences.
Publication
The GCR Guide to Life Sciences – Merger control: Procedural issues
Miranda Cole, Julien Haverals and Emma Clarke of our Brussels/ London offices are the authors of a chapter on procedural issues in merger control that has been published in the third edition of the Global Competition Review’s The Guide to Life Sciences. This covers a number of significant procedural developments that have affected merger review of life sciences transactions.
Subscribe and stay up to date with the latest legal news, information and events . . .