UK - The Society of Pension Consultants has welcomed a new regulatory task force set up to tackle consumer confidence in pensions.
Chairman Sir David Miers told FSA chief executive John Tiner that the SPC “shares your analysis of the benefits which this increased capability and confidence could bring to individual consumers, the firms which meet their needs and regulators”.
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.