FCA refuses adviser questions on British Steel pensions

Mr Carlson also revealed that the attendance of the seminar was almost mandatory for local financial advisers.

He said: “I only received the email invite last week [Wednesday] and if you are involved in DB advice you either had to attend or tell the FCA why you wouldn’t be attending.”

For Mr Carlson, there was nothing new in the seminar. But he said other advisers were not so up to date on the regulator's expectations on defined benefit transfers.

He said: “It was a surprise to the adviser sitting next to me, because he hadn't heard about any of those communications, which was a bit worrying, so I guess it was useful to some people.”