Altmann calls for tighter regulation of product providers

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Pensions expert Ros Altmann has called on the Financial Conduct Authority (FCA) to tighten its grip on product providers to ensure customers are treated fairly once they have received the government's proposed retirement guidance.

Altmann (pictured) said the regulation of the product sales process has "failed to understand what customers need" and that providers should be obligated by the regulator to ensure their customers get what they want. Speaking at a hearing with the House of Commons ad hoc pension schemes bill committee, the pensions expert said providers should have to ask clients the "right questions" as an additional safeguard around the government's guidance guarantee. The guidance guarantee was introduced by the Chancellor as an impartial free service for all people at retirement. It will be del...

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