June 5, 2020 / 6:06 AM / a month ago

BRIEF-UK watchdog to ban contingent charging in pensions market

June 5 (Reuters) -

* FCA SETS OUT NEXT STEPS TO IMPROVE DEFINED BENEFIT PENSION TRANSFER MARKET

* FCA SETS OUT NEXT STEPS TO IMPROVE DEFINED BENEFIT PENSION TRANSFER MARKET

* FCA SETS OUT NEXT STEPS TO IMPROVE DEFINED BENEFIT PENSION TRANSFER MARKET

* FCA PENSION PACKAGE INCLUDES STEPS TO REDUCE CONFLICTS OF INTEREST BY BANNING CONTINGENT CHARGING

* FCA SAYS PROPORTION OF CUSTOMERS WHO HAVE BEEN ADVISED TO TRANSFER OUT OF THEIR DB PENSION IS UNACCEPTABLY HIGH.

* FCA IS UNDERTAKING 30 ENFORCEMENT INVESTIGATIONS

* FCA FOUND THAT PERCENTAGE OF UNSUITABLE FILES IN BRITISH STEEL PENSIONS WAS HIGHER THAN THOSE IN REST OF SAMPLE. Source text for Eikon: Further company coverage: (Reporting By Huw Jones)

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