All Financial Conduct Authority (FCA) articles – Page 12
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News
DB transfer values hit all-time high
On the go: Defined benefit pension transfer values soared to an all-time high on August 21, according to the latest analysis from consultancy XPS Pensions.
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News
Fall in gilt yields drives transfer values to near record
On the go: The continuing fall in gilt yields is driving transfer values towards near record levels, according to XPS Pension Group.
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News
Government to review tax taper for NHS clinicians
On the go: The government is to review the operation of the tapered annual allowance for senior clinicians, following a vigorous campaign by NHS doctors.
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News
5 million still at risk from scams, TPR warns
On the go: The Pensions Regulator has warned that as many as five million savers are still at risk from pension scams, as it renews its commitment to fighting fraudsters alongside the Financial Conduct Authority.
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OpinionWho will protect us from slow-footed regulators?
I was not working as a journalist in the late 1980s when the last big personal pension scandal broke, but the spectre of this mis-selling debacle has loomed large over the financial services sector for three decades.
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News
MPs urge DWP to review scope and level of charges cap
The Work and Pensions Committee is ramping up the pressure on the government and the Financial Conduct Authority to cap the level of charges on default retirement products.
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NewsFCA lambasted for lethargy on contingent charging
The Financial Conduct Authority’s proposals to ban controversial charging structures were welcomed by the industry on Tuesday, but some have criticised the regulator for being slow to act.
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News
Contingent charging to be banned by November under FCA proposal
On the go: Contingent charging could be banned by November this year under new plans by the Financial Conduct Authority, which released a package of measures on Tuesday aiming to boost consumer rights.
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NewsFCA's move to shrink IFA market poses trustee challenges
The Financial Conduct Authority defended its increase to the compensation limit on Wednesday, accepting that the financial advice market was shrinking but reaffirming that it will help protect consumers.
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Features
Sony and Michelin source IFAs to support member decision-making
The shadow of the British Steel Pension Scheme saga looms large over trustee decisions on defined benefit transfers, but there are signs lessons have been learned.
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PodcastsPodcast: Putting a stop to unsuitable defined benefit transfer advice
Podcast: The Financial Conduct Authority recently expressed concern that too much of the defined benefit transfer advice it has seen to date is still not of an acceptable standard. In this podcast, Tom Selby, senior analyst at AJ Bell, and Bob Scott, senior partner at LCP, talk about the impact of increased regulatory scrutiny of transfer advice, the need for DB flexibility, and how schemes and employers can help members by appointing a dedicated independent financial adviser to their scheme.
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News
FCA plans to ramp up supervision of transfer advice market
On the go: The Financial Conduct Authority intends to ramp up its supervision of the most active firms in the transfer advice market, after finding that 69 per cent of people seeking advice had been recommended to transfer between 2015 and 2018.
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FeaturesThe clear cost of investment
Obscuring investment costs is becoming a risky game for the asset management industry, and Dr Chris Sier knows it.
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News
DB members transferring face adviser shortage as regulations bite
On the go: Nearly seven out of 10 advisers are wary of advising on defined benefit transfers, according to Aegon Research.
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News
FCA paper highlights intergenerational disparity
On the go: The Financial Conduct Authority’s new discussion paper on intergenerational shifts highlights the disparity in pensions, mortgages, consumer credit and insurance coverage of UK citizens from millennials to baby boomers.
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OpinionIGC reports need to tell it like it is on value for money
The Financial Conduct Authority is consulting on extending the powers of independent governance committees. As expected, it is looking to IGCs to monitor providers’ engagement with environmental, social and governance principles, and to ensure policyholders get value for money as they exercise their pension freedoms.
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News
Pensions still high on FCA agenda despite Brexit demands
On the go: Dealing with Brexit is the Financial Conduct Authority’s overarching concern, its business plan for 2019-20 reveals, but pensions are still high on its agenda.
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NewsTrustees not responsible for bad IFA transfer work, scheme professionals say
Advisers to pension schemes have hit out at proposals that British Steel Pension Scheme should award discretionary payouts to members who mistakenly left the plan, saying it shifts the blame for bad financial advice on to trustees.
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OpinionBetter communication can ease rush to transfer out of DB
Transfers from defined benefit pension schemes have proved attractive in recent years, but there are serious questions over their suitability for many. Trustees cannot afford to shy away from helping their members, and the Pension Protection Fund wants to help.
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News
New criminal sanctions could be difficult to enforce, experts say
The government has said that it plans to go ahead with proposals for new criminal offences to prevent and penalise mismanagement of pension schemes, but enforcing these sanctions may prove challenging, experts say.