The regulator has today published a paper, which consults on the elements of the guidance guarantee for which the FCA will be responsible.
These include setting and monitoring the standards with which guidance providers will have to comply, and making and enforcing rules on how contract-based schemes signpost to the guidance services.
The Treasury named The Money Advice Service and The Pensions Advisory Service as the 'delivery partners' for the guidance service this morning.
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The key points outlined in the FCA document today about the proposed rules for guidance

• The delivery partner must not charge the consumer for the guidance.
• The delivery partner must ensure that the consumer experience of the guidance is consistent and of good quality across the range of delivery channels.
• The delivery partner must deliver the guidance with due skill, care and diligence.
• The delivery partner must not recommend specific products, providers or financial advisers to the consumer or sell any products directly or indirectly to the consumer.
• The delivery partner must ensure that all those who approve the design of any processes and tools, including web-based material deliver the guidance over the phone or in person
 are competent and have sufficient knowledge and expertise to deliver the 
guidance or design any processes and tools.
• The delivery partner must have due regard to the needs of the consumers using the service and communicate in a way that is clear, fair and not misleading.
• The delivery partner must establish and maintain such systems and controls as are appropriate to ensure that it meets its obligations under these standards, as well those applicable to its operations more generally, including protection of consumer information (e.g. Data Protection Act).
• The delivery partner must establish an appropriate complaint management system to investigate complaints arising in connection with the delivery of its service. For complaints that cannot be resolved by the delivery partner, or cut across a number of different services, the Treasury will determine an adjudicator function, independent of providers of guidance, to which these complaints can be escalated as appropriate.
• 
The delivery partners must agree the information (pension entitlement and other personal and financial details) that will be requested during the guidance session.
• The delivery partners must use this information when developing the content of the session, as well as the tools that will support the range of delivery channels, such as web pages.

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On the content of the guidance session the FCA said:

The delivery partner must establish processes to ensure that the guidance is delivered consistently across the delivery channels and that it:

• Sets out the scope, purpose and limitations of the session.
• Sets out the information (pension entitlement and other personal and 
financial details) that will be used during the session.
• Requests all relevant information from the consumer about their pension entitlement.
• Requests relevant information about the consumer's financial and personal circumstances that would inform the discussion. This would include information on family circumstances.
• Alerts the consumer to other sources of information and advice as appropriate and at relevant points during the session.
• Discusses the relevant options and the key facts and consequences for each option and based on the information provided by the consumer sets out other issues for the consumer to consider. This could cover life expectancy, the danger of running out of money during retirement and possible long-term care needs
• Sets out next steps for the consumer to take forward, as well as appropriate signposting to further sources of information, guidance or advice.
• 
The delivery partner must ensure that the consumer receives a record of their guidance session.
• This record must cover the options discussed with the consumer and
key facts and consequences, as well as other sources of information or specialist advice, and information on how to shop around for any products the consumer wishes to consider purchasing.

Following the guidance session the delivery partner must:

• 
 Signpost the consumer to further information, advice or relevant support tools
• ensure that signposts are appropriate and consistent with the principles of the guidance; that is be impartial, consistent, relevant and of
good quality
• not recommend specific products, providers or financial advisers but empower consumers to find further sources of information, a product or specialist advice; for example, by referring the consumer to a directory of advisers.

A consultation on the proposed standards and rules will run until September 22.