The FCA don’t appear to do ‘joined up’ thinking. Today’s Press reports has them ‘back pedalling’ with great energy. With a nett 2.5 billion reported as having been wiped from pension providers share values, it isn’t surprising.

The FCA say that this is not the start of a witch hunt. They will not be pursuing individual cases of pension scamming. However, if the temptation is to read between the lines, one is left with the suspicion that there is more going on than any of us know.