Law & RegulationRSS

Regulator to prosecute brewery for failing to provide financial info

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The Pensions Regulator is to prosecute Samuel Smith Old Brewery and company chairman Humphrey Smith for failing to provide information and documents required for an ongoing investigation.

High Court rules against statutory limit for overpayment recovery

The High Court has ruled that defined benefit schemes are not subject to a time limit on their ability to recoup pension overpayments. Such a recovery must be carried out equitably by altering future payments, however.

Should pension schemes become more litigious?

In 2009, the Royal Bank of Scotland admitted that it had incurred billions of dollars in losses in relation to its subprime exposures and acquisition of Dutch bank ABN Amro.

Trustees with fid man less likely to check quality of service

Trustees employing fiduciary managers are less engaged in assessing the quality of their provider than those with a traditional investment consultancy relationship, the latest report from the Competition and Markets Authority has found.

Select committee launches inquiry into DB white paper

The Work and Pensions Committee has launched an inquiry into the government's recent white paper on defined benefit security and sustainability, asking how the proposed measures are likely to be most effective and whether legislation should be fast-tracked.

TPR fires warning shot over dividend to DRC balance

Defined benefit trustees and sponsoring employers should act sooner rather than later to secure members' pensions, the Pensions Regulator has said in its latest annual funding statement, and warned against prioritising dividends.

FCA tackles information deficit with new rules and consultation

The Financial Conduct Authority has published new rules on the duties of fund managers and is launching a consultation on proposed rules and guidance for improving fund information for investors.

Default drawdown tops select committee's at-retirement wishlist

Providers of drawdown products should be required to develop charge-capped default products to help disengaged savers make their pension last, the Work and Pensions Committee has recommended.

Fast Pensions in provisional liquidation following investigation

Six companies, including Fast Pensions and FP Scheme Trustees, have been placed in provisional liquidation by the High Court following an investigation by the Insolvency Service, the government agency has said.

TPR to prosecute recruitment firm

The Pensions Regulator is to prosecute recruitment company Workchain Ltd and seven of its directors and staff for unauthorised access to a computer programme. They are accused of logging into the company pension scheme using employees' details to opt them out of the scheme.

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