UK - Lloyds TSB has been fined £1.9m for mis-selling a precipice bonds product designed by pensions and insurance firm Scottish Widows.
The bank will also have to pay around £98m in compensation to 22,500 investors who invested in the extra income and growth product between October 2000 and July 2001.
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.