UK - Claims by the top four accountancy firms that a liability cap is needed to protect them from lawsuits have been dismissed by the Office of Fair Trading.
Trading. Deloitte, Ernst & Young, KPMG and Pricewater-houseCoopers have been lobbying government to limit their liabilities against allegations of incompetence or negligence.
But the OFT found “no compelling arguments” to support the claims.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.