Financial Conduct Authority
Former Woodford founders spoke to FCA in 2015 about strategy concerns — reports
The Financial Conduct Authority (FCA) was made aware of concerns about Neil Woodford's investment strategy at his fund management business back in 2015, but did not act until nearly two years later, according to reports.
FCA partners with Jersey regulator to probe new Woodford venture
The Financial Conduct Authority (FCA) has broken its silence on Neil Woodford's return to fund management with confirmation that it is working alongside the Jersey regulator to share information on the new venture.
2021 outlook: What's next for regulation?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for regulation in 2021.
Government infrastructure bank to partner with pension funds to support investment
The government will set up an infrastructure bank to support investment and to co-invest alongside investors including pension funds.
TPR expands Determinations Panel with appointment of new chair and four members
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).
DB funds as an economic lever could derail schemes from responsibilities
Opportunities for defined benefit (DB) schemes to pursue investment approaches that help repair the UK’s economy cannot stand in the way of improving member outcomes, Aegon says.
UK to issue first green bond and require firms to disclose climate risk
The government plans to cement the UK's position as a global centre for green finance have received a significant boost, with chancellor Rishi Sunak unveiling proposals to issue the country's first sovereign green bond next year and make climate risk...
Responsible investment bill proposed to provide 'clear pathway' on trustee ESG duties
New legislation is needed to push pension trustees and asset managers to consider ESG factors within their legal duty to beneficiaries, as well as ensuring trustees are up to standard, ShareAction says.
Engage now on investment pathways to avoid February stand-off, IGCs warned
Providers are failing to engage early with their independent governance committees (IGCs) over the rollout of investment pathways despite the looming 1 February deadline, they have been warned.
Workplace schemes mandated to 'nudge' members into pensions guidance
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
PLSA puts forward seven proposals to overcome barriers to climate-aware investing
Data definitions, better stewardship, and increased education are central recommendations for overcoming the barriers to climate-aware investing, the Pensions and Lifetime Savings Association (PLSA) says.
Transparency Task Force publishes FCA 'wish list'
TTF wants greater consumer protection
The unstoppable force paradox: Supply and demand in the DB transfer market
Philip Dickinson looks at the impact of Covid-19 on the transfer market and how schemes and advisers can support members.
DC pot first-time access hit high record in March
Savers accessing defined contribution (DC) pension pots for the first time rose to an all-time high just before the coronavirus pandemic, Just Group says.
Transparency Task Force publishes open letter to PM following meeting on pension scams
The Transparency Task Force (TTF) has published an open letter to prime minister Boris Johnson asking him to take a personal interest in pension scam problems and push for legislative flexibilities for scam victims.
Pension Awareness Week 2020: Savers 'ignoring' schemes' fraud warnings
Warnings from pension companies to savers who are looking to transfer their pension somewhere that does not look right are often ignored, says Phoenix Group.
Industry raises significant concerns over FCA consultation on advising on pension transfers
The industry has raised serious concerns that Financial Conduct Authority (FCA) transfer advice proposals on illustrative figures could hamper schemes’ ability to help members to understand their retirement options and force many to take full regulated...
Aegon, Aviva, and Scottish Widows top 2020 workplace pension solutions and AE ratings
Offerings from Aegon, Aviva, and Scottish Widows have taken the crown in the Financial Technology Research Centre’s (FTRC) annual workplace pensions and auto-enrolment (AE) ratings.
Calls for greater trustee power as WPC scam inquiry consultation closes
Trustees need to be given the choice to directly refuse pension transfers if the industry is to properly plug the proliferation of scams, the Work and Pensions Committee (WPC) has been told.
TPR needs power to halt suspected fraudulent transfers, report urges
Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.
Trustees told to step up as FCA contingent charging ban takes effect
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
Countering the increased threat of pension scams
Pension scams are not new, but the number of pension scams has soared by 400% since the beginning of the COVID-19 pandemic. Tom Williams asks what is a trustee’s role in protecting members against pension scams?
PFS warns of post-lockdown pension transfer request 'spike'
A potential surge in pension transfer requests as a result of the economic fallout from lockdown could see demand for advice rocket, putting increased pressure on the profession, the Personal Finance Society (PFS) has warned.
Schemes face 'multi-million pound' dashboard compliance bill
Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).
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