SWITZERLAND - UBS will commence a share buyback programme leading to the cancellation of shares.
The new programme succeeds the one in force since March 2002, under which UBS has already repurchased shares with CHF5bn.
A second trading line on the Virt-x exchange will be in operation which can run until 5 March 2003.
UBS will use this second line to repurchase its own registered shares, which, together with those bought back under the earlier 2002 programme, will be cancelled on approval at next year’s AGM.
The buyback programme is aimed primarily at institutional investors.
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have launched a refreshed ScamSmart campaign to warn savers about unsolicited pension communications.
Ann Harris OBE and Mike Dailly have been appointed non-executive directors at the upcoming single financial guidance body (SFGB).
Pension schemes are "placing too much focus" on a narrow section of the private debt market where competition is driving down "compelling opportunities", according to Willis Towers Watson.
Barnett Waddingham's head of business development Adrian Cooper has left the consultancy to join TPT Retirement Solutions in a newly-created role.