State Street has set up a $618m (£313m) legal fund following the underperformance of some active fixed-income strategies at its investment management arm.
The investor services firm said the reserve – which totals $279m (£141m) on a post-tax basis – followed investor concerns over whether the execution of some of State Street Global Advisors’ managed active...
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.