Law and Regulation

Top stories this week include the government dropping mandatory advice for small defined benefit (DB) transfers, hundreds of fines for auto-enrolment non-compliance, and a multimillion pound settlement for Carrington Wire. Here's what you might have missed....

The Financial Conduct Authorities' (FCA) attempts to prevent mis-selling after ‘freedom and choice' policies kick in this April have been trashed by respondents to PP's weekly survey.

The announcement from The Pensions Regulator (TPR) that it fined 166 firms for auto-enrolment breaches last quarter sends a "loud and clear" message to employers, say industry commentators.

The Pensions Regulator (TPR) has accepted an £8.5m settlement with the Russian steel maker Severstal over obligations to the Carrington Wire pension scheme.

A Labour peer has attacked the annuity market, claiming it "plays fast and loose" with the regulatory framework.

More than 160 employers were issued fixed penalties of £400 last year after The Pensions Regulator (TPR) ramped up the use of its powers for auto-enrolment failures.

The Pension Regulator's (TPR) ‘second line of defence' for retirees will be extended to cover trust-based pension scheme members as well those in contract-based arrangements, peers have heard.

Decision makers in the local government pension scheme (LGPS) will likely face more onerous knowledge and understanding requirements in the near future, warn consultants.

Policymakers' decision not to apply forthcoming governance and transparency rules to funds other than default options may lead to a regulatory gap in defined contribution (DC), Linklaters has warned.

Pension scheme members are three times more likely to be approached about accessing their pots since the Budget freedoms were announced, according to research.