All Financial Conduct Authority (FCA) articles – Page 5
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OpinionPensions dashboards and the importance of language
Shoosmiths partner Paul Carney debates the importance of language and how the pensions dashboards project has scope for errors and delay.
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NewsCall for British Steel compensation to go through PPF
On the go: Adviser trade body the Personal Investment Management & Financial Advice Association has called for those who were wrongly advised to transfer out of the British Steel Pension Scheme to be transferred into the Pension Protection Fund, so they can once again have a guaranteed income.
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NewsBT sets 5-year carbon goal, Islington updates net zero targets
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including new decarbonisation targets from the £57.5bn BT Pension Scheme, an update to the £1.4bn London Borough of Islington Pension Fund’s responsible investment policy, and the Financial Conduct Authority’s delay to plans for sustainable investment labels.
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NewsFCA supports regulation of ESG ratings
On the go: The Financial Conduct Authority has expressed its support for the regulation of environmental, social and governance data and ratings agencies after consulting the industry.
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NewsTPR supports actuaries’ climate report, Smart commits to net zero
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a new climate change report for actuaries, Smart Pension announcing a net zero target for 2040, and savers supporting the government’s push for greener pensions.
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NewsSchemes start to gather learnings from first TCFD reports
As the first group of UK schemes have completed their Task Force on Climate-related Financial Disclosures reports, they have been challenged by the long process, incomplete and inconsistent data, and lack of mandatory reporting from fund managers.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsFCA and TPR rule out new pension saving regulations
The Financial Conduct Authority and the Pensions Regulator do not plan on introducing any new regulations to help people when saving into a pension.
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NewsGovt redefines fiduciary management in CMA probe reply
The government has excluded transition management from the scope of fiduciary management in its response to the Competition and Markets Authority’s 2018 investigation of the sector.
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NewsCharles Counsell to step down from TPR in 2023
On the go: Charles Counsell will be stepping down as chief executive of the Pensions Regulator in 2023 as he will not be seeking a second term at the watchdog’s helm.
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NewsTPR to review Stewardship Code with watchdogs and government
The Pensions Regulator will work with the government and fellow watchdogs to review the Financial Reporting Council’s revised UK Stewardship Code.
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NewsProviders urge earlier introduction of Pension Wise ‘nudge’
On the go: The Financial Conduct Authority’s new rules guiding customers to use Pension Wise before drawing down their pension, which came into force on June 1, have been criticised as “poorly timed and mismanaged” by one provider.
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NewsMindset shift key to private markets in DC, trustees told
Allocating capital to long-term illiquid assets requires a shift in focus from cost to value, according to panellists at the Pensions and Lifetime Savings Association’s investment conference.
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NewsAnnuities make slow comeback as retirees look for income certainty
After a decline in annuity sales following the pension freedoms, the market seems to have levelled off with purchases accounting for around 10 per cent of total market share, according to the Pensions Policy Institute.
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NewsFCA admits Brits were not well-protected against pension freedom risks
On the go: The Financial Conduct Authority has admitted that policymakers and regulators should have done more to protect consumers from risks that arose with the introduction of pension freedoms.
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NewsFCA urges BSPS members to quickly file complaints
The Financial Conduct Authority has written to individuals who transferred out of the British Steel Pension Scheme in 2016, urging them to file their complaints as soon as possible.
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NewsBailey to be grilled by MPs over British Steel saga
Bank of England governor Andrew Bailey is set to appear before a group of MPs to answer questions about his role in the British Steel Pension Scheme scandal when he was at the financial regulator.
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NewsGovt rejects call for automatic Pension Wise appointments
The government has ruled out automatically enrolling pension savers into guidance appointments with Pension Wise before they can access their retirement pot.
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NewsFCA relaunches pension transfer advice checker tool
On the go: The Financial Conduct Authority has relaunched its pension transfer advice checker tool, which has been designed so that consumers can see whether they have received unsuitable advice.
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OpinionGetting ready for the pensions dashboards
Taylor Wessing’s pensions partner Anna Taylor details the latest developments with the pensions dashboards project and what trustees should be doing to get their schemes ready for it.