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UK insurance sector calls for advice overhaul to fix pension freedoms

UK insurance sector calls for advice overhaul to fix pension freedoms

The Association of British Insurers (ABI) has called for a major shake-up to the advice market, including risk warnings for pension transfers and changes to the advice-guidance boundary.

A report into the impact of pension freedoms by the ABI has called on regulators to reform advice rules now that Brexit has offered the chance to get rid of the restrictions currently in place. The ABI said that EU guidelines around what constitutes advice are far too restrictive and it has demanded a full review of the UK watchdog's Handbook of rules and guidance. Please link to International Investment to read the full article by Pedro Goncalves.

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