Financial Conduct Authority
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...
Seven pension bodies team up to reassure savers over Covid-19 concerns
Seven bodies with responsibility for protecting UK pension savers’ pots have joined forces to create an information guide to reassure scheme members amid concern about the impact of the Covid-19 crisis on financial wellbeing in the UK.
Two-thirds of pension firms cut gender pay gaps
Asset managers have made considerable improvements in their gender pay gaps, with an average narrowing of 2.6 percentage points, Professional Pensions analysis finds.
Pulling together will get us through
Julian Mund says the pensions industry, regulators and government are all working together to mitigate the impact of Covid-19 on savers.
Should the UK's lowest-paid workers be auto-enrolled in pensions?
Jon Dean looks at whether the AE system can be adapted to meet low earners’ needs and lower financial resilience.
Legislation is holding back chair's statements
Maggie Williams looks at whether chair's statements are having the desired effects, and what lies in their future.
Five stories you may have missed this week
This week’s top stories included the Financial Conduct Authority saying there is a “significant risk of harm” in the long-term savings market caused by pension freedoms, and Standard Life and Zurich publishing their latest independent governance committee...
Maps flags Covid-19 implications for pensions dashboard launch
The Money and Pensions Service (Maps) has published its first full report on progress on the pensions dashboard so far and has flagged “significant” delivery challenges in the face of the coronavirus pandemic.
Covid-19 has changed the world, not TPR's focus on protecting savers
As the Covid-19 outbreak brings new threats from scams, it is important the message to members about avoiding knee-jerk reactions isn't lost in the panic, says David Fairs.
Hold off on rash pension decisions, say regulators
The UK’s pension regulators have called on pension savers to stay calm as fears over the impact of the coronavirus pandemic on markets and personal finances may lead many to take damaging actions.
Granularity is the key to cost transparency
As the first reports under the cost transparency templates become due, Charlotte Moore looks at how schemes and their consultants can use the data
Redington gets approval for private equity backing
Regulatory approval has been granted to Redington for private equity backing from Phoenix Equity Partners.
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...
Trustees: Get shipshape or be the pension industry's joke
A lost tourist asks a local for directions and gets the reply: “Well, if I were you, I wouldn’t start from here.
Robin Ellison: Schadenfreude acceptable as TPR fines FCA
Robin Ellison says The Pensions Regulator's decision to fine the Financial Conduct Authority £2,000 because of shortcomings in its pension scheme is symptomatic of the grandstanding now common among regulators
TPR fines FCA over non-compliant pension scheme
The Pensions Regulator (TPR) has issued a £2,000 fine to the Financial Conduct Authority’s (FCA) Pension Plan due to a non-compliant chair’s statement.
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.
Dashboards must learn from open banking
Lessons must be learned from open banking in order to make the pensions dashboard a success for the modern saver, says Darren Philp.
Charles Counsell: 2020 will be a year of positive change
Changes are afoot in the pensions regulatory landscape in a bid to boost both security and outcomes for members. Charles Counsell reveals what you can expect from the regulator this year.
The tide turns for DC and alternatives
DC schemes are increasingly looking at investing in alternatives but face a number of challenges. Charlotte Moore takes a look at the issues they face.
Ten pensions predictions for 2020
2019 was a busy year on many fronts, and pensions was no exception. Paul Kitson gives his top ten predictions for the pensions industry in 2020.
DB trustees urged to engage with advisers to avoid 'reputational damage'
Pension scheme trustees should actively engage financial advisers if members are looking to transfer out of their defined benefit arrangements and washing their hands of the process does not eliminate risk, a study has found.
L&G launches annuity comparison service
Legal & General (L&G) has launched an online annuity searching tool, allowing consumers to compare rates across six leading providers.
Time to get serious on defeating scams
With the law not adequately protecting savers from scams, the pensions industry must be more direct with members about the risks of transfers, says Margaret Snowdon.
