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UK regulator investigates poor pensions financial advice

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UK regulator investigates poor pensions financial advice

U.K. financial regulator Financial Conduct Authority is probing 30 companies and individuals over actions that potentially endangered pensions, the Financial Times reported.

Responding to questions from a Labour party member of Parliament, Economic Secretary to the Treasury John Glen said in a letter that enforcement actions had been taken against 15 businesses and individuals for pensions-related misconduct, including scams and improper pension transfers.

The names of those being probed were not revealed.