Emma Radmore“Operating a pensions dashboard service” which connects to the MAPS dashboards will become a regulated activity under the RAO with effect from 11 March. For these purposes, any pension in respect of which information is requested by, or provided to, an individual using such a service will be a “specified investment” under the RAO.
Since breach of the new requirement would be a criminal offence, the change has been approved by both Houses of Parliament.
FCA consulted at the end of 2022 on standards that pensions dashboard service operators would need to meet.