The FCA has responded robustly to complaints about the time it took to provide redress to victims of the British Steel Pension Scheme (BSPS) scandal.

Nikhil Rathi, FCA chief executive, said the regulator will probe Big Tech firms’ access to financial data to question how it could improve outcomes for consumers and business.

The FCA is keeping a close eye on an ‘uptick’ in overseas firms trying to establish an operation in the UK but keeping senior staff overseas.

More than half of pension pots are being cashed out in full as fewer people seek professional guidance, new figures from the FCA have revealed.