All Financial Reporting Council articles – Page 2
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News
KPMG ‘helped’ US firm dump £100m Silentnight scheme into PPF
On the go: KPMG allegedly helped US buyout fund HIG Capital force the insolvency of Silentnight to acquire the company without the burden of its £100m pension scheme, in a case brought by the UK’s accounting regulator.
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News
Pandemics, climate change pose ‘systemic risks’ to actuarial work
On the go: Global pandemics and the threat of a climate catastrophe present dire risks to the quality of actuarial work, according to a new report by the Joint Forum on Actuarial Regulation.
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News
Schemes to contribute £1m to Financial Reporting Council levy
On the go: Pension schemes are being asked to contribute £1m to the Financial Reporting Council levy, which will rise to £47.2m in 2020-21 from £41.7m in 2019-20.
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News
Kingman: FRC should be replaced with new independent regulator
On the go: The Financial Reporting Council should be replaced as soon as possible with a new independent regulator with clear statutory powers and objectives, an independent review of the council has recommended.
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News
One-fifth of FTSE 350 companies do not declare DB funding positions
Employers should be legally required to disclose their defined benefit scheme deficits on a technical provisions basis, along with details of the associated recovery plan durations and contributions agreed, Lincoln Pensions has said.
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OpinionTime for schemes to crack down on CEO pay
From the blog: A few weeks ago, the High Pay Centre released its annual report on executive pay at FTSE 100 companies. Unsurprisingly the report highlighted a large increase in chief executive officer pay from 2016 to 2017 – rising by 11 per cent.
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News
FRC review threatens to impact actuarial profession
An advisory group to the government review of the Financial Reporting Council is to explore the extent to which actuaries should be subject to formal regulation in response to the pensions-related nature of recent corporate failures.
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NewsFTSE 100 steps up derisking drive as deficits shrink
Defined benefit schemes of FTSE 100 employers continue to derisk investment portfolios at a rapid rate, despite mismatching of assets and liabilities generating attractive returns over the last year.
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News
Select committees question regulator’s ambition on DB
On the go: The Pensions Regulator’s commitment to engaging proactively with poorly funded defined benefit schemes and their employers has been called into question by two parliamentary select committees, in a stinging letter that discusses the future of chief executive Lesley Titcomb.
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NewsManagers improving stewardship disclosure, but ESG has a way to go
Quality of stewardship reports among asset management firms is steadily improving, according to the Financial Reporting Council, but some managers continue to dismiss environmental, social and governance issues.
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News
Employers open to risk of reporting errors on contingent assets
News analysis: Employers have been told to approach the use of certain contingent asset funding deals with caution, after the Financial Reporting Council said solvency improvements could be cause for investigation.
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Features
How Strathclyde allocated £100k SRI mandate
Strathclyde Pension Fund has become the latest scheme to hire a socially responsible investment overlay provider to reduce risk. Owen Walker looks at its selection process.
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Features
Stewardship Code to focus on ESG and lending
The Financial Reporting Council (FRC) is to review the UK Stewardship Code this summer, and is expected to incorporate stock lending and environmental, social and governance (ESG) issues.
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