Regulation
Oxfordshire County Council pension fund improves following TPR action
Oxfordshire County Council has seen a "significant improvement" to its pension fund governance following action by The Pensions Regulator (TPR).
DB pension freedom rights 'eroded' by Dear CEO letter
The recent 'Dear CEO' letter sent by the FCA to pension providers could mean pension freedoms for defined benefit (DB) scheme members are "being eroded", one SIPP provider has warned.
SLA tribunal triumph over Lloyds termination of £109bn Scottish Widows mandate
Standard Life Aberdeen has won a tribunal in which it claimed Lloyds Banking Group was not entitled to give notice to terminate investment management arrangements for a £109bn mandate.
Treasury launches fresh inquiry into post-Brexit financial regulation as UK enters 'uncharted waters'
The Treasury Select Committee has launched a new inquiry into the future of the UK's financial services once it has left the European Union.
Cost transparency: Where are we a year on?
The transaction cost disclosure regulations have been in place for a year. Jon Parker says while there has been progress in obtaining data, there is a still a long way to go.
Frank Field to meet Insolvency Service chief over BHS pre-sale audit
Work and Pensions Committee (WPC) chairman Frank Field will continue his probe of former BHS owner Sir Philip Green as he prepares to meet Insolvency Service chief executive Sarah Albon later this month.
Hammond to unveil study on pooling DC funds into patient capital - reports
Chancellor of the Exchequer Philip Hammond is expected to use next Monday's Budget to launch a feasibility study into the use of pensions to fund UK patient capital opportunities.
Suitability reports needed for advice against pension transfers - FCA
The Financial Conduct Authority (FCA) is to press ahead with its plan to require firms to provide suitability reports for advice against a pension transfer despite concerns over additional advice costs.
FCA delays decision on DB transfer contingent charging ban
The Financial Conduct Authority (FCA) has held back from making any changes to its rules on contingent charging for defined benefit (DB) transfers in its latest policy paper on the subject.
Brexit white paper: UK and EU won't have current levels of access to each other's markets
The government has backed down from its calls for mutual regulatory recognition post Brexit and will now push for a deal that will see UK and EU financial services firms' access to each other's markets scaled back when the country leaves the bloc.
IA updates Investment Management Agreement to reflect MiFID II changes
The Investment Association (IA) has updated its template Investment Management Agreement (IMA) to reflect new MiFID II requirements, which came into force on 3 January 2018.
Rising DB transfer claims push 2018/19 FSCS levy to £407m
The FSCS has cited the growing number of claims relating to defined benefit (DB) pension transfers as the main reason for the lifeboat scheme's levy for this year being a fifth higher than it forecast in January.
FCA eyes contingent charging ban in DB transfer advice
The Financial Conduct Authority (FCA) has revealed it is considering whether to implement a ban on contingent charging for pension transfer advice.
Eight retirement income questions the FCA and TPR want answered
The FCA and TPR are seeking input on how best to collaborate in regulating the retirement income market over the coming decade, in the wake of the introduction of both pension freedom and auto-enrolment.
Pension cold-calling ban to be in place 'by June'
A ban on pension cold-calling will be put into law by June this year after the government introduced amendments to the Financial Guidance and Claims Bill.
FCA's latest annuity rules 'fundamentally' flawed
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Pensions Ombudsman investigating 150 British Steel complaints
The Pensions Ombudsman is investigating a group of more than 150 complaints about transfer values from British Steel Pension Scheme (BSPS) members.
Asset managers under fire as impact of transaction costs revealed post-MiFID II
Fund groups have been criticised as newly disclosed transaction costs under MiFID II show the actual cost of ownership of some of the UK's most popular funds is as high as 85% above previously disclosed OCFs.
Gina Miller plans to sue FCA over MiFID II leniency on fund groups
Transparency and anti-Brexit campaigner Gina Miller is planning to sue the FCA over its approach to MiFID II, claiming the regulator is not taking a firm enough approach to ensure asset managers comply with the new rules.
Trustees should quiz fund managers on CEO pay voting
Industry voices outrage over salary disconnect after research shows how much FTSE 100 top bosses earn over the average worker.
2.7 million more pension cold calls since freedoms
Pension-related cold calls have increased by around 2.7 million since Freedom and Choice was introduced in April 2015, according to research commissioned by Aviva.
FCA: Four asset managers 'may have broken competition law'
Artemis IM, Hargreave Hale, Newton IM, River & Mercantile AM
Conditional indexation would be 'thin end of the wedge'
Struggling sponsoring employers of defined benefit (DB) schemes should not be allowed to suspend annual pension increases according to PP research.
Industry urged to develop DB early warning system
The industry and regulator should act to implement an early warning system for beleaguered DB schemes according to Silverfinch.
