Complaints Commissioner/FCA: Report 202400259

The Complaints Commissioner has upheld parts of a complaint against FCA with regard to its handling of pension transfer issues and its response to the complainant, which included referring the complainant to the police for help in the matter..  The Commissioner also raised concerns about potential systemic issues in how the pension transfer market handles “insistent clients” and recommended that FCA carry out a review in order to determine whether consumers are facing undue barriers and to apologise to the complainant.  FCA accepted the recommendations and advised that it would update the Commissioner on the issues raised by the case in six months’ time.