Further consultation on the regulatory framework for pensions dashboard service firms: PLSA response to FCA consultation paper CP24/4

On 8 May, the PLSA submitted its response to the FCA’s second consultation on the regulatory framework for pensions dashboard service firms. The PLSA also responded to the first consultation on this topic in February 2023. In our latest response, we stress the need for consumer testing to be the driving force behind finalizing any draft guidance in the Perimeter Guidance manual (PERG) as well as the choice architecture presented to consumers after viewing their dashboard. We also stress the importance of eliminating firm bias in any finalized rules and urge the FCA to consider the interplay between dashboards and the Advice Guidance Boundary Review currently under consideration.