All Financial Conduct Authority (FCA) articles – Page 20
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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.
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Opinion
How can DC schemes deliver value for money?
There are few more prolific terms overheard in the pensions industry than value for money, and far fewer that evade objective definition quite so comfortably.
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News
Annuity market shrinks further but expects little impact on rates
The annuity market was shaken up last week when Canada Life agreed to acquire Retirement Advantage. Just six annuity providers remain in the open market.
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OpinionPost-retirement defaults are key to better outcomes
The advent of pension freedoms has meant that the government now expects savers to take responsibility for important financial decisions that could mean the difference between an inadequate retirement or a comfortable one.
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NewsScottish Widows switches DC defaults to target drawdown
Scottish Widows has changed the default investment strategy of its group personal pension plan clients to target flexible access drawdown instead of an annuity, as member demand continues to shift away from guaranteed income.
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OpinionThe pensions industry needs more innovators
Now Pensions’ Adrian Boulding says regulatory policy must allow the pensions industry to explore new products for accumulation and decumulation, focusing on the overall financial health of its customers.
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News
Calls for action on complexity at heart of DB transfer delays
Increased demand for defined benefit pension transfers, lack of transfer experience among independent financial advisers and complexity of DB pensions is adding to transfer delays by putting strain on administrator resources, recent research has shown.
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FeaturesCYBG scheme closure highlights industry's 10-year funding headache
Banking group CYBG has closed its defined benefit pension scheme to future accrual, wiping £131m from its liabilities and avoiding increased contributions amid worsening market conditions.
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OpinionPlastic Lamborghinis: The worrying FCA Retirement Outcomes Review
From the blog: The Financial Conduct Authority’s latest Retirement Outcomes Review presented some interesting statistics, particularly for those of us in the business of designing pre-retirement investment strategies.
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OpinionHave we finally got a handle on scams?
Phoenix Life’s Danny Dowd says government must lay the statutory framework to allow pensions providers to take a tougher stand on scammers, including an expanded cold-contact ban and revisiting of transfer rights.
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OpinionHow to prepare for the FCA’s assessment of transfer advisers
From the blog: Pension transfer advisers are stuck between a rock and a hard place. The Financial Conduct Authority is taking an intrusive and robust approach to regulating the industry, in many cases closing down businesses because they are not satisfied with their advice and methods.
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NewsRetail platforms review could be 'benchmark' for institutional side
The Financial Conduct Authority has kick-started a review into retail platforms to understand if the fast-growing market provides value for money to consumers, as some have called for extending its scope to the institutional side.
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News
FCA cites ways to crank up consumer protection amid competition concerns
The rising number of consumers who buy drawdown without advice has given prominence to the need for greater support and protection, says the Financial Conduct Authority.
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News
Default offerings fail to inform savers adequately
More than a third of default fund providers are failing to meet regulatory guidance asking them to clearly state their product’s objective, according to a new report that highlights communications failings in the sector.
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OpinionWill the FCA market study revolutionise pensions?
AB Global’s David Hutchins on why the recent final report on asset management will set a welcome direction of travel, and why both consultants and trustees should be brought within the FCA framework.