Your Industry  

Cridland and tax-free cash: the week in news

But while he acknowledged that the rules did technically allow it, he said he would be "very nervous" to use it.

5) Regulator on overseas transfers

Article continues after advert

The Financial Conduct Authority has told another firm to stop doing overseas pension transfers.

The regulator has told Dubai-based Holborn Assets to “immediately cease” all regulated activity relating to pension transfer business introduced by overseas advisers until a skilled person has signed off the company’s advice process.

The watchdog's decision comes around a month after DeVere UK agreed with the FCA that it would stop providing third party companies with transfer value analysis reports.

As with DeVere, the FCA has not provided an explanation for why it has taken action against Holborn Assets.

But it has also ordered the company to carry out a past business review of all pension transfer business, including business introduced by overseas and UK advisers.

damian.fantato@ft.com