UK - FSA proposals on split-capital investment trusts fail in three crucial areas, The Actuarial Profession warns.
Although in favour of much of what is proposed in the FSA consultation paper, the organisation fears proposed rules on investment restrictions and changing the board of directors to include all independent directors, pose serious problems for the industry.
The Actuarial Profession is now seeking to discuss its concerns with the regulator.
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).