Source · Select Committees · Work and Pensions Committee
Recommendation 19
19
Deferred
Paragraph: 126
We heard that concerns about stepping over the boundary from guidance into advice continue to...
Recommendation
We heard that concerns about stepping over the boundary from guidance into advice continue to constrain the support that pension schemes and employers can provide to savers. The regulators are working with pension schemes and providers to better understand these concerns and to gather practical examples of where this is causing a problem. We recommend DWP and the FCA report to us on progress in clarifying the boundary between advice and guidance by March 2023.
Government Response Summary
The government redirects the recommendation to the FCA, stating they lead on the provision of financial advice and have provided a separate response.
Paragraph Reference:
126
Government Response
Deferred
HM Government
Deferred
We work closely across government with the Financial Conduct Authority (FCA) and HM Treasury who lead on the provision of financial advice. The FCA have provided a separate response to the Committee which addresses this recommendation.