All The Pensions Regulator (TPR) articles – Page 6
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NewsPPF: Funding worsened for some schemes due to market turmoil
The Pension Protection Fund is expecting some schemes to have a deterioration in funding due to the forced selling of assets in response to market turmoil, despite the overall improvement in the defined benefit sector, its chief finance officer and chief actuary has said.
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NewsFCA: Liquidity buffers are a ‘necessary but partial solution’
On the go: The Financial Conduct Authority has urged managers of liability-driven investment funds to learn the lessons of the autumn liquidity crisis, claiming that liquidity buffers represent only part of the solution to future volatility.
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NewsFCA bans third-party dashboard consumer charges
The Financial Conduct Authority will prohibit third parties from charging customers for services linked to pensions dashboards as part of its regulatory framework for the initiative.
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NewsTPR investment lead mulls role of ‘groupthink’ in LDI crisis
The Pensions Regulator’s lead investment consultant, Fred Berry, has suggested that industry “groupthink” may have played a part in creating the conditions for the liquidity crisis which engulfed defined benefit pension schemes in the autumn.
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NewsTPR expects improved LDI liquidity buffers to be maintained
The Pensions Regulator has set out its expectation that liquidity buffers be maintained across pooled and leveraged liability-driven investment mandates, going beyond the demands of Irish and Luxembourgish regulators.
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NewsTrustee pair receive suspended sentences for illegal loans
On the go: Two pension trustees who pleaded guilty to making illegal loans from a company pension scheme to its employer have received suspended prison sentences.
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Opinion
Staying O:pen to diversity and inclusion
Travers Smith partner Andy Lewis details the benefits of fostering diversity and inclusion in the pensions industry and the contribution made by a new cross-industry initiative.
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NewsTPR threatens £50,000 fines for dashboards non-compliance
The Pensions Regulator will impose fines of up to £50,000 for non-compliance over pensions dashboards.
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NewsEx-trustee pleads not guilty to illegal pension investing
On the go: Former trustee David Boardman has pleaded not guilty to six counts of making illegal investments, in a prosecution brought by the Pensions Regulator.
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NewsExperts estimate £500bn in assets are ‘missing’ after LDI crisis
Around £500bn in pension scheme assets are “missing somewhere” as a result of the liability-driven investment crisis, the Work and Pensions Committee has been told, with experts also questioning the role of leverage in these funds and the need for more guidance from regulators.
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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NewsTPR: Trustees show ‘increasing willingness’ to embrace D&I
On the go: The Pensions Regulator has found “increasing willingness” from scheme trustees to embrace diversity and inclusion, despite recognising “change is not easy and may take time”.
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NewsL&G blames govt for LDI crisis and backs consultant regulation
Legal & General has placed responsibility for the market turmoil that triggered the autumn liquidity crisis firmly at the feet of the government, while adding its support to calls for the regulation of investment consultants.
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NewsLDI crisis to hit L&G’s DB revenue and profit by £10mn
On the go: Legal & General has disclosed that its defined benefit business-linked revenues and profits will be hit by around £10mn in its full-year 2022 results, following an autumn liquidity crisis among pension schemes that saw its higher-fee products sold to meet collateral calls.
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NewsTPR and FCA flag governance and competence concerns over LDI
The Pensions Regulator and the Financial Conduct Authority have raised questions over the governance of small schemes and the competence of some investors, in response to questions from a parliamentary committee over the use of liability-driven investments by pension schemes.
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NewsRegulators tell savers to ‘stay on guard’ over scams
On the go: The Pensions Regulator, the Financial Conduct Authority and the Money and Pensions Service have joined forces to warn savers against scams.
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NewsFCA highlights investment consultant ‘gap in regulation’
The Financial Conduct Authority has told MPs that it previously pointed to the risks associated with liability-driven investments and suggested the existence of a “gap in regulation” linked to investment consultants, in response to questions over October’s market turmoil and its impact on pension schemes.
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NewsBoE director calls for greater regulatory oversight on leverage
The Bank of England’s executive director for financial stability strategy and risk has called on regulators to review how leverage is managed, in the wake of a liquidity crisis in October triggered by a spike in gilt yields.
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NewsTPR salvages more than £500mn in missing contributions
On the go: The Pensions Regulator has secured more than £500mn worth of late or missing contributions since the advent of auto-enrolment, it has claimed.
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NewsSainsbury’s sets up £500mn loan to DB scheme for LDI crisis
Sainsbury’s has set up a £500mn loan facility to ensure its defined benefit scheme has enough liquidity to face collateral calls on its liability-driven investments.