A new report into the BSPS debacle has heavily criticised regulators including the FCA and TPR.

The Financial Services Compensation Scheme (FSCS) has revealed it has so far paid out £1.1m to former Active Wealth clients hit by the British Steel pensions debacle.

Frank Field MP, chair of the Commons Work and Pensions Committee, has written to the FCA over concerns that its response to the British Steel pensions controversy has been “grossly inadequate.|