All Financial Conduct Authority (FCA) articles – Page 19
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OpinionHow the retirement income market is evolving
The Financial Conduct Authority’s Mary Starks says cooperation between industry, government and regulators is needed to make the freedoms work for consumers.
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OpinionAre we making enough progress on transparency?
Transparency has become a buzzword in the industry, but we don’t always mean the same thing when we talk about it.
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News
DC schemes to give members cost information online only
Defined contribution schemes should disclose costs and charges to members by signposting a link in their annual benefit statement, the Department for Work and Pensions has proposed, as the industry agrees communications need to be kept simple.
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News
Employer-hired IFAs could solve member DB transfer advice struggle
Sixty-one per cent of employers say members are having difficulty in finding advisers for pension transfers, a new survey has found, as experts highlighted the need for companies to engage independent financial advisers on behalf of scheme members.
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NewsGovernment defeated over delays to cold-calling ban
The government was defeated in the House of Lords on Wednesday night by an amendment to the financial guidance and claims bill, which sought to bring forward plans to ban pensions cold-calling.
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OpinionA busy pensions agenda
Editorial: News that the pensions dashboard will be taken forward by the Department for Work and Pensions has been welcomed by the pensions industry.
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NewsFCA: Half of UK adults show signs of financial vulnerability
The Financial Conduct Authority’s largest survey of UK consumers’ financial habits has identified concerns around financial resilience and undersaving, as experts urge improvements to the auto-enrolment framework.
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News
Age-based tax relief rumours met with industry criticism
Philip Hammond is understood to be considering cuts to tax relief for older workers to fund tax breaks for younger people, a move that would ‘smack of ageism’ and cause further confusion, industry figures say.
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News
FCA sounds alarm over unsuitable DB transfer advice
Fewer than half of defined benefit transfer advice processes are “suitable”, according to analysis by the Financial Conduct Authority, raising concerns over the lack of communication between introducing companies and transfer specialists.
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OpinionPLSA: Fund managers should disclose pay policies
Charges and fees can be reduced through better governance, says the Pensions and Lifetime Savings Association’s Luke Hildyard, and proposes remedies.
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Features
Wholesale changes to rules are needed to enable DB consolidation
Pensions Expert 20th Anniversary: Amalgamating defined benefit corporate pension funds could reduce costs, improve investment and make for better governance, but it is still unclear whether full DB consolidation is a chimera or the fix to a fragmented system.
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Features
How will regulation need to change to be fit for the 21st century?
Pensions Expert 20th Anniversary: When the world’s first funded occupational pension plan appeared towards the end of the 16th century in the form of a large iron chest, its success was short-lived.
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OpinionIn need of repair
Editorial: News that the Work and Pensions Committee will scrutinise the effects of the pension freedoms cannot have surprised many.
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NewsFCA forces asset managers to disclose transaction costs
The Financial Conduct Authority continued its transparency reform this week, with the release of a policy statement requiring greater transaction cost disclosure for workplace pensions.
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OpinionWill streamlined advice help close the advice gap?
Streamlined advice could be a more affordable alternative to full advice, supporting retirement planning and engaging younger people, argues Aegon’s Steven Cameron.
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OpinionSeparation of services could shake up fiduciary management
Chris Parrott of the Pensions Management Institute and Heathrow Airport Holdings says concerns remain over the appointment and monitoring of fiduciary management, and examines the impact of potential policy changes on the sector.
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NewsCMA begins consultant investigation as FCA calls trustees 'weak'
The Financial Conduct Authority has finalised its referral of the investment consultancy industry to the Competition and Markets Authority, beginning an 18-month period of investigation into conflicts of interest in the sector.
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Features
How valuable are transition managers?
Analysis: Last week, State Street agreed to pay approximately $35m (£26m) to settle a pair of complaints by the Securities and Exchange Commission that it defrauded six institutional investors while conducting transition management services.*
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News
Second finance bill provides clarity, but concerns remain
The government’s second finance bill has provided clarity on a number of pensions issues, including a reduction of the money purchase annual allowance, but experts are concerned that some people are still likely to suffer adverse consequences.
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OpinionManagers consolidate faster
Editorial: Proposed new rules on asset management fee disclosure could cut into the consistently high profit margins of asset managers, but there are other trends investors should be aware of.