MPs have urged financial regulators to work together to improve their communications to combat financial scams in a report released today by the Work and Pensions committee.
MPs highlighted the risk of scams for pension savers and urged regulators to work together to monitor the effectiveness and reach of their communications.
The report said: “We welcome the apparent alertness that the Pensions Regulator, the Money and Pensions Service, and the Financial Conduct Authority have shown to the increased risk of pension scams. They have tried proactively to warn pension savers about the risks they face. But, in a period of many competing messages from public bodies, we are concerned that their messages may not reach enough of the people who are vulnerable to scams.”
“We urge the regulators to work together to monitor the effectiveness and reach of their communications.”
They have already worked together on projects such as ScamSmart but it seems this does not go far enough for MPs.
I for one will be very interested to see how the communication teams from the various regulators choose to work together more closely.
Brandon Consulting Services Ltd 