There will be no transitional 'comply or explain' period for professional trustees to prepare for mandatory standards when they come into force later this year, a regulator-backed working group has announced.
In efforts to bolster scheme governance, the Professional Trustee Standards Working Group (PTSWG) has proposed these trustees should have to demonstrate compliance with six areas of standards, with chairmen...
'Not appropriate to comment'
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.
John Wotton says the competition watchdog's package of proposals will help trustees get the best deal and be satisfied they are acting in their members' best interests