UK - The Financial Services Authority has dropped plans to investigate a former director of Equitable Life.
The watchdog said it would not look into the conduct of Roy Ranson, 73, during his employment at the company because he was of an age where he was unlikely to apply for a position at an FSA-authorised firm or seek personal authorisation by the FSA.
If found guilty of misconduct, the FSA’s maximum penalty would have been to prevent Ranson from receiving this authorisation.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers