The government has today confirmed that the Financial Guidance and Claims Bill will not apply to introducers.
In a response to MPs who expressed apprehensions over the remit of the Bill last month, the letter from the Government set out its view on pension scams and how the ban on cold-calling should be implemented in order to put a stop to them. However, it stops short of covering lead generation firms, which are able to operate on an unregulated basis at present.
Introducers were one of the key concerns highlighted by the work and pensions select committee in May, with their letter to the Government citing cases where pension scheme members had been targeted in person by introducers working on behalf of a firm.
It is yet to be seen whether the techniques of introducers will come under the scrutiny of the Government, or if the committee will issue a follow-up response to this latest development.
The Bill is due to come into effect later this month.
