BSPS compensation: a Pension Review repeat

Former members of the British Steel Pension Scheme received "significantly higher levels of unsuitable advice than other cases", according to the Financial Conduct Authority. As the regulator prepares to wield its 'section 404 powers' for only the second time and consults on a redress scheme, Adam Samuel opines that we are not learning the lessons of history.

Adam SamuelBA LLM DipPFS MCISI FCIArb Certs CII (MP&ER) Barrister and Attorney may be contacted atadamsamuel@aol.com.For links to where you can buy the second edition of 'Consumer Financial Services Complaints and Compensation', see www.adamsamuel.com/book.

The United Kingdom financial services industry had a quarter of a century to prepare for CP22/6. This consultation paper announces the FCA's proposals for a proactive review of pension transfers from the British Steel Pension Scheme to various forms of private pension.