Regulation

INDEPENDENT Trustee Services has started legal action against GP Noble, its director Graham Pitcher and several other financial services firms, PP has learned.

THE Pension Protection Fund has confirmed that it has set a pension protection levy estimate of £700m for 2009/10.

TRUSTEES must remain vigilant in the current economic turmoil but it is essential their thinking remains long-term, delegates heard.

PENSION PROTECTION FUND proposals to include longer-term risk in its levy calculations will lead to relatively well-funded schemes with strong sponsors paying more, Watson Wyatt says.

THE Pension Protection Fund has gone out to consultation on proposals to take account of scheme investment strategies when calculating levies.

MORE schemes will trigger regulator scrutiny as recovery plans move outside ten year guideline, Xafinity Consulting claims.

Professional Pensions' "spat" with The Pensions Regulator was raised in the last House of Lords Pensions Bill debate.

THE Pensions Regulator has merged its scheme specific funding and corporate risk management teams.

THE Financial Services Authority has fined AWD Chase de Vere Wealth Management £1.12m for "serious failings" in its pension transfer, pension annuity and income withdrawal business.

Eversheds has written to the department for work and pensions to highlight "inconsistencies and practical problems" with employer debt regulations.