FCA has published a policy statement setting out the final rules and guidance and feedback in relation to its consultation on pension reforms in light of governmental reforms (see FReD 9 October 2015 and above). FCA confirms how it intends the new rules to promote competition, ensure the market works well and protect consumers. Following consultation, FCA made the new rules introduced in the Conduct of Business (Pensions Supplementary Rules) Instrument 2016 which come into force across 25 April 2016, 10 October 2016 and 6 April 2017. The later dates reflect the stakeholder feedback that six months is too short an implementation time for the system changes. (Source: FCA reports on pension reforms)
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