The FCA is keeping a close eye on an ‘uptick’ in overseas firms trying to establish an operation in the UK but keeping senior staff overseas.

The Financial Services Compensation Scheme is probing two overseas-based adviser firms which used used EU 'passporting' rules to advise UK clients on pension transfers.

The attack on the CISI website - which targeted credit card transactions - came from a "highly organised international attacker", Financial Planning Today understands.

Spain remains the top retirement destination for UK pension savers but non-EU locations are growing in popularity despite the fact that more than 500,000 are suffering a ‘frozen’ state pension by retiring to some non-EU jurisdictions.