The Bank of New York has been appointed by Lincoln National Life (LNL) to provide custody and securities lending services for all its general account insurance assets.
Lincoln National Life is one of the largest life insurance and financial services organisations in the US. Through its wealth accumulation and protection businesses, the company provides annuities, life insurance, 401(K) plans, life-health reinsurance, mutual funds, institutional investment management and financial planning and advisory services.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.