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<p>The Government is committed to working with the Financial Conduct Authority (FCA),
the independent financial services regulator, to ensure consumers have access to high
quality financial advice. The FCA is responsible for ensuring that the financial advice
market works well, competitively and fairly. The Government has established a strong
regulatory framework to enable the FCA’s work.</p><p> </p><p>The FCA has considerable
power to take action where it sees evidence of poor pension transfer advice. For example,
they may impose a financial penalty on firms or individuals, require the firm to pay
redress to its customers, place restrictions on the firm’s permissions or prohibit
individuals from operating in financial services.</p>
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