Andrew Bailey
WTW: One-in-five schemes considering superfunds
One-in-ten defined benefit (DB) schemes have already discussed the option of superfund consolidation as a target endgame while a further 9% are planning to do so shortly, according to Willis Towers Watson (WTW).
Five stories you may have missed this week
This week’s top stories included a High Court judgement ruling the Pension Protection Fund’s compensation caps age discriminatory, while the revenue of the three biggest pension consultancy firms saw a year-on-year dip for 2019.
Superfund risk called into question by Bank of England governor
Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).
FCA names LSE's Nikhil Rathi as chief executive
Nikhil Rathi has been appointed as chief executive of the Financial Conduct Authority (FCA) following Andrew Bailey’s move to the Bank of England as governor earlier this year.
Unknown territory: Pensions impacts of negative yields and interest rates
Nigel Sillis looks at how UK pension schemes could fare in a market environment with negative yields and interest rates.
Andrew Bailey: BoE readying further 'unprecedented' response to coronavirus crisis
The Bank of England (BoE) is "ready to do more" to fight the economic consequences of the coronavirus pandemic and the measures put in place to tackle it, including further interest rate cuts and an expansion of its corporate financing facility, according...
BoE looks for 'rapid recovery' for battered UK economy
Keeps interest rates and QE at current levels
Gina Miller calls for review of Andrew Bailey's appointment at BoE
Gina Miller has published a report highlighting "regulatory failures" in financial services during Andrew Bailey's tenure as chief executive (CEO) of the Financial Conduct Authority (FCA), calling for chancellor Rishi Sunak to review Bailey’s appointment...
FCA appoints Christopher Woolard as interim chief executive
The Financial Conduct Authority (FCA) has appointed Christopher Woolard has interim chief executive following advice from HM Treasury.
FCA's Bailey confirmed as Carney successor at BoE
Financial Conduct Authority (FCA) chief executive Andrew Bailey has been confirmed as the next Governor of the Bank of England (BoE).
AMNT urges FCA to respond to its investment stewardship complaint
The Association of Member Nominated Trustees (AMNT) has called on the Financial Conduct Authority (FCA) to respond to a complaint it made in May regarding investment stewardship.
MPs offer FCA compromise on DB transfer contingent charging ban
The Work and Pensions Select Committee (WPC) has called on the FCA to explore the case for setting an upper limit for the amount of a DB transfer fee that can be received via contingent charging.
We need a change in the tone of regulation
Robin Ellison says it is not unreasonable for schemes and their trustees and sponsors also to expect an improvement in the tone of regulation
MPs ask FCA to publish Brexit impact studies
The Treasury Committee has written to the Financial Conduct Authority (FCA) to ask for publication of analysis on the impact leaving the European Union is likely to have on the regulator.
FCA mulls expanding IGC remit with social investing duties
Independent governance committees (IGCs) may see their remit expanded to include reporting on social investing issues under Financial Conduct Authority (FCA) plans unveiled in its business plan today.
FCA's Bailey: More work to be done on fees
Regulator does not want to 'incentivise short-termism'
How the end of LIBOR will affect pension funds
LIBOR is set to be phased out by 2021. Jonathan Stapleton looks at how the withdrawal of this benchmark will affect schemes
FCA urges switch away from LIBOR benchmarks as underlying market thins
The Financial Conduct Authority has said LIBOR is likely to end by 2021 and has urged markets to begin transitioning to alternative benchmarks.
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