All Law & regulation articles – Page 112
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OpinionCMA investigation: Prepare for positive change
Cardano’s Richard Dowell talks through what we have learned so far from the Competition and Markets Authority’s investigation into investment consultancy and fiduciary management services.
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News
TPR levies first fine on professional trustee
On the go: The regulator has disclosed that it has imposed a £3,000 fine against a professional trustee for failing to update their scheme’s register with news of their appointment.
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News
Regulator threatens greater discipline over poor admin
The number of public service pension schemes disclosing inadequate processes for monitoring data accuracy and completeness has risen, as the Pensions Regulator pledges to clamp down on those falling below the standards it expects.
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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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NewsBox Clever judgment sees scheme inch closer to ITV funding
The Pensions Regulator was right to seek to impose a financial support direction on ITV in relation to the Box Clever defined benefit pension scheme, according to a court judgment published on Friday.
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News
Government consults on reforms to NDA schemes
The government has launched a consultation on its approach to reforming two schemes within the Nuclear Decommissioning Authority’s group, after proposals for a bespoke career average revalued earnings scheme were accepted by unions in 2017.
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News
Regulator comes out on top in Box Clever case
On the go: The Pensions Regulator was right to seek to impose a financial support direction on ITV in relation to the Box Clever defined benefit pension scheme, according to a court judgement published on Friday.
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News
Blocking dodgy transfers could stop scams, say trustees
Only a restriction of the statutory right to transfer will end pension scams, the Pensions Regulator’s leading trustee company for appointments to irregular schemes has said, as it reported a marked increase in the number of cases dealt with in recent months.
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NewsRegulator rebuked for 'feeble' response to Carillion underfunding
Carillion’s corporate culture was at the heart of the contractor’s collapse, MPs have concluded, but the Pensions Regulator has also come under fire for “failing in all its objectives” regarding the company’s pension funds.
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News
Brewery and chair plead guilty in regulator's s72 case
Samuel Smith Old Brewery and its chairman Humphrey Smith have pleaded guilty to failing to provide information about its schemes to the Pensions Regulator.
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Opinion
GDPR - A brave new world for the pensions industry
It is easy to imagine bunkers in remote corners of England, hatches locked, filled with trustees who are desperate not to hear any more about the General Data Protection Regulation.
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News
Lack of trustee engagement leads to higher fees, CMA finds
The Competition and Markets Authority has turned its attention to the negotiation abilities of trustee boards, with a working paper that highlights the benefits of engaging third-party oversight of consultants or fiduciary managers.
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News
TPR plan welcomed, but concerns remain over consistency
The industry has welcomed the Pensions Regulator's new corporate plan, which outlines how it plans to become “clearer, quicker and tougher”, but concerns remain over consistency and the watchdog's focus on smaller schemes.
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News
Report urges pensions overhaul to fix intergenerational unfairness
The UK’s intergenerational contract is under more strain than ever, and radical reforms are needed to secure the funding of increasing care costs while helping young people to save, according to Conservative peer Lord Willetts.
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News
Excess pension freedoms tax of £22m repaid in Q1 2018
HM Revenue and Customs figures show £22m in overtaxed pension freedoms payments was repaid in the first quarter of 2018, prompting calls for reforms to the way withdrawals are taxed.
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News
Further details emerge on consolidator safeguards
Investors in The Pension SuperFund will not begin to receive returns on their capital until its consolidated schemes have passed a 115 per cent funding target, its executives have told the Work and Pensions Committee.
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News
TPR to seize assets of rogue employers
The Pensions Regulator has said it will appoint High Court Enforcement Officers to seize assets of employers who do not pay a pension fine.
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News
Are trustees engaging with fiduciary managers properly?
Most trustees are perfectly capable of operating beyond the conflicts of interest inherent in fiduciary management, but some small schemes lack resources and support, according to experts.
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News
CMA: Fiduciary management not overly concentrated
Neither the investment consultancy or fiduciary management industries show signs of excessive concentration, the Competition and Markets Authority has found, but the vertical integration of the ‘big three’ firms could distort the market in future.
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News
Opperman tells insurers to do more for savers
Pensions and financial inclusion minister Guy Opperman has urged insurers to deliver the products and processes the market is often criticised for lacking, and to defend the pension freedoms policy.