FRC

The Financial Reporting Council (FRC) has hit Mazars with almost £2m in fines and costs for giving bad advice to trustees of the First Quench scheme.

The Financial Reporting Council (FRC) has proposed amendments to its FRS102 accounting standard to address fears an overhaul of reporting standards will add millions to corporate liabilities.

International accounting standards for listed companies are riven by faultlines that are damaging for business, according to a group of UK pension schemes and long-term investors.

The Institute and Faculty of Actuaries (IFoA) and the Financial Reporting Council (FRC) have outlined how actuarial regulation will be divided between the two bodies.

Asset managers must reveal the full cost of management to investors, as concealed costs can account for up to 85% of a fund's total transaction fees, the Pensions Institute says.

The industry has questioned whether the charge cap on auto-enrolment (AE) default funds is good for scheme members.

The Pensions Bill has received Royal Assent in Parliament, bringing reforms to state pension and the abolition of defined benefit (DB) contracting out closer.

The Financial Reporting Council (FRC) has formally agreed proposals from the Investment Management Association (IMA) that will see fund managers break down profits and losses in pounds and pence figures for the first time.

Naomi Rainey looks at what is in – and what is missing – from the FRC consultation

Sir Winfried Bischoff is to take up his role as chairman of the Financial Reporting Council (FRC) from today following Baroness Sarah Hogg's decision to step down last year.