All Financial Conduct Authority (FCA) articles – Page 19
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NewsFCA forces asset managers to disclose transaction costs
The Financial Conduct Authority continued its transparency reform this week, with the release of a policy statement requiring greater transaction cost disclosure for workplace pensions.
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OpinionSeparation of services could shake up fiduciary management
There is no doubt that for several schemes, the appointment of a fiduciary manager has been a welcome addition to the support framework available to them.
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OpinionWill streamlined advice help close the advice gap?
As part of the Financial Advice Market Review, with its aim of closing the advice gap, the Financial Conduct Authority has been consulting on new guidance on streamlined advice.
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NewsCMA begins consultant investigation as FCA calls trustees 'weak'
The Financial Conduct Authority has finalised its referral of the investment consultancy industry to the Competition and Markets Authority, beginning an 18-month period of investigation into conflicts of interest in the sector.
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Features
How valuable are transition managers?
Analysis: Last week, State Street agreed to pay approximately $35m (£26m) to settle a pair of complaints by the Securities and Exchange Commission that it defrauded six institutional investors while conducting transition management services.*
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News
Second finance bill provides clarity, but concerns remain
The government’s second finance bill has provided clarity on a number of pensions issues, including a reduction of the money purchase annual allowance, but experts are concerned that some people are still likely to suffer adverse consequences.
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OpinionManagers consolidate faster
Editorial: Proposed new rules on asset management fee disclosure could cut into the consistently high profit margins of asset managers, but there are other trends investors should be aware of.
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Opinion
How can DC schemes deliver value for money?
There are few more prolific terms overheard in the pensions industry than value for money, and far fewer that evade objective definition quite so comfortably.
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OpinionPost-retirement defaults are key to better outcomes
The advent of pension freedoms has meant that the government now expects savers to take responsibility for important financial decisions that could mean the difference between an inadequate retirement or a comfortable one.
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News
Annuity market shrinks further but expects little impact on rates
The annuity market was shaken up last week when Canada Life agreed to acquire Retirement Advantage. Just six annuity providers remain in the open market.
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NewsScottish Widows switches DC defaults to target drawdown
Scottish Widows has changed the default investment strategy of its group personal pension plan clients to target flexible access drawdown instead of an annuity, as member demand continues to shift away from guaranteed income.
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OpinionThe pensions industry needs more innovators
In today’s digitally connected world, one in which UK financial services companies compete for consumers’ attention, solely investing in the latest systems and software to incentivise customers may not go far enough.
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News
Calls for action on complexity at heart of DB transfer delays
Increased demand for defined benefit pension transfers, lack of transfer experience among independent financial advisers and complexity of DB pensions is adding to transfer delays by putting strain on administrator resources, recent research has shown.
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FeaturesCYBG scheme closure highlights industry's 10-year funding headache
Banking group CYBG has closed its defined benefit pension scheme to future accrual, wiping £131m from its liabilities and avoiding increased contributions amid worsening market conditions.
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OpinionPlastic Lamborghinis: The worrying FCA Retirement Outcomes Review
'I’d like to buy a Lamborghini please!'
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OpinionHave we finally got a handle on scams?
Pension scams are a growing and wide-ranging problem facing consumers. Around four years ago Phoenix became aware that policyholders were being contacted by fraudsters, trying to trick them into losing their life savings.
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OpinionHow to prepare for the FCA's assessment of transfer advisers
From the blog: Pension transfer advisers are stuck between a rock and a hard place. The Financial Conduct Authority is taking an intrusive and robust approach to regulating the industry, in many cases closing down businesses because they are not satisfied with their advice and methods.
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NewsRetail platforms review could be 'benchmark' for institutional side
The Financial Conduct Authority has kick-started a review into retail platforms to understand if the fast-growing market provides value for money to consumers, as some have called for extending its scope to the institutional side.
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News
FCA cites ways to crank up consumer protection amid competition concerns
The rising number of consumers who buy drawdown without advice has given prominence to the need for greater support and protection, says the Financial Conduct Authority.
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News
Default offerings fail to inform savers adequately
More than a third of default fund providers are failing to meet regulatory guidance asking them to clearly state their product’s objective, according to a new report that highlights communications failings in the sector.