UK - Standard & Poor's Ratings Services is set to review its triple-B counterparty credit and insurer financial strength ratings on Britannic Assurance.
The move follows a trading statement issued from Britannic Group – the parent company of Britannic Assurance – that annual bonuses for 2002 are likely to be deferred and that no final dividend is likely to be paid in respect of 2002.
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.