Pasa appoints former regulator as new chair
The Pensions Administration Standards Association (Pasa) will appoint David Fairs as chair and Kim Gubler as president of the body. The two will formally be appointed at Pasa’s annual conference on 24...
Regulation
Consultants call for some IHT exclusions on workplace pensions
Broadstone says it is supportive of the government’s aim to include pensions with inheritance tax, in order to ensure they are primarily used to generate income in retirement, rather than as a...
FCA updates ‘polluter pays’ guidance for financial firms
The FCA has today provided an update on its polluter pays regulations, setting out its clear expectations that firms should take reasonable and verifiable steps to ensure any potential and actual redress...
Industry critical of Reeves’ plans for ‘mega-funds’
Providers and consultants have urged the government to focus on value for money metrics, rather than asset size when driving consolidation in the DC market. These responses suggest that the industry is...
No redress paid for poor DB transfer advice due to rising annuity rates
The typical defined benefit transfer complainant is now likely to receive no compensation at all for poor advice due to rising annuity rates and more buoyant stock market returns. These findings come...
FCA proposes new disclosure rules on retail investments
The Financial Conduct Authority (FCA) has set out plans to simplify the information firms send to investors. This changes follows Brexit, as previously UK firms sent out information that was standardised across...
FCA charges wealth manager who bought racehorses and property with client funds
The Financial Conduct Authority (FCA) has brought criminal charges against the partner of a wealth management firm, claiming he transferred £64m from client accounts, using the money to buy racehorses, residential and...
No compensation for ‘Waspi’ women as DWP rejects Ombudsman’s report
The Government has confirmed it will not pay compensation to the 3.6m 'Waspi' women born in the 1950s who claim they were given insufficient warning about increases to their state pension age....
FCA consults on private market stock exchange
The Financial Conduct Authority as set out more proposals for a new stock exchange trading holdings in private companies. It is now consulting on the potential risk warnings that it needs to...
FCA bans two advisers for pension transfer failings
The Financial Conduct Authority has imposed fines of more than £500,000 on two advisers, and banned them from working in financial services, after they offered flawed advice on DB transfers. As a...
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