March 26, 2018 / 10:42 AM / in a month

BRIEF-UK's FCA announces changes to advice on pension transfers

March 26 (Reuters) - UK’S Financial Conduct Authority

* UK’S FCA - PUBLISHED NEW RULES ON PENSION TRANSFER ADVICE AND IS SEEKING VIEWS ON ADDITIONAL CHANGES, INCLUDING ADVISER CHARGING STRUCTURES

* UK’S FCA-NEW RULES INCLUDE REQUIRING TRANSFER ADVICE TO BE PROVIDED AS PERSONAL RECOMMENDATION THAT TAKES ACCOUNT OF CONSUMER’S INDIVIDUAL CIRCUMSTANCES

* UK’S FCA-RULES REPLACE CURRENT TRANSFER VALUE ANALYSIS WITH NEED TO UNDERTAKE PERSONALISED ANALYSIS OF CONSUMER’S OPTIONS, COMPARISON

* UK’S FCA - DECIDED TO MAINTAIN THE POSITION AT THIS STAGE THAT ADVISER SHOULD START FROM ASSUMPTION THAT DEFINED BENEFIT PENSION TRANSFER WILL BE UNSUITABLE‍​

* UK’S FCA-SEEKING VIEWS ON IF IT SHOULD INTERVENE IN RELATION TO CHARGING STRUCTURES GIVEN DIFFICULTY IN MANAGING CONFLICTS OF INTEREST (Reuters.Briefs@thomsonreuters.com)

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