UK - Individuals given poor investment advice on free standing additional voluntary contributions will receive compensation totalling £250m.
A review set up by the FSA in February 2000 has reviewed FSAVC policies taken out by almost 100,000 people.
Managing director John Tiner said: “The FSAVC review was a carefully targeted exercise and it will make a real difference to the retirement income of tens of thousands of people.”
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.