Regulation

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.

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.

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.

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.

The Financial Conduct Authority (FCA) has revealed it is considering whether to implement a ban on contingent charging for pension transfer advice.

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.

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.

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.

The Pensions Ombudsman is investigating a group of more than 150 complaints about transfer values from British Steel Pension Scheme (BSPS) members.

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.