FCA should regulate pension consultants – UK MPs
Gilt crisis report says firms offered “standardised advice” poorly tailored to pension schemes’ needs
The UK’s Financial Conduct Authority (FCA) should begin regulating pension investment consultants within the next two years, says a UK parliamentary report investigating last year’s gilt crisis.
Some consultants offered boilerplate advice to pension funds regarding their allocation to liability-driven investing (LDI) strategies, the Work and Pensions Committee found.
“We heard, including from the FCA itself, that in some cases investment consultants were giving standardised advice, rather than
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